Over the last two sessions, the Singapore stock market has seen a significant drop, losing about 40 points or 1.2%. Now, the Straits Times Index (STI) stands just above 3,260 points, signalling potential further losses.
This global forecast for Asian markets is rather bleak, primarily due to the uncertainties surrounding interest rate outlook. European markets experienced a minor increase, while the U.S. markets fluctuated and remained steady overall. This performance is expected to set the tone for Asia.
The STI closed considerably lower on Wednesday due to financial losses and varied results from real estate and industrial firms. For the day, the index dropped 35.51 points or 1.08%, closing at 3,264.53 after fluctuating between 3,256.16 and 3,290.16.
Among the active stocks, CapitaLand Integrated Commercial Trust saw a 1.04% increase, while CapitaLand Investment reported a 1.15% decline. City Developments increased by 0.34%, and Comfort DelGro soared by 1.41%. DBS Group decreased by 0.61%, and Genting Singapore dropped by 1.13%. Meanwhile, Hongkong Land fell by 1.52%, although Keppel DC REIT rallied at 1.15%. Several other stocks reported fluctuating performances, with other firms such as Mapletree Industrial Trust, Mapletree Logistics Trust, and Emperador remaining largely unchanged.
From Wall Street, the picture is unclear as opening numbers were low, with closing figures endi