FX.co ★ Singapore Bourse Poised To End Losing Streak

Singapore's stock market has seen declines for consecutive trading days, dipping by approximately 10 points or 0.3 percent. The Straits Times Index (STI) is currently positioned just above the 3,320 mark, though it might stabilize on Tuesday.

Globally, the forecast for Asian markets is relatively flat with a slight positive bias ahead of the Federal Open Market Committee (FOMC) statement scheduled for Wednesday. While European markets experienced declines, U.S. markets saw an upswing, suggesting a potential minor increase for Asian markets.

On Monday, the STI posted a modest loss as declines in property stocks and industrials were partly offset by gains in the financial sector. Specifically, the index fell by 8.69 points or 0.26 percent, concluding at 3,322.08 after fluctuating between 3,315.16 and 3,342.19 during the trading session.

Key market movements included CapitaLand Ascendas REIT and CapitaLand Integrated Commercial Trust both falling by 1.50 percent, CapitaLand Investment dropping by 1.52 percent, and City Developments decreasing by 1.82 percent. Conversely, DBS Group saw a gain of 0.31 percent, and Emperador rose by 1.16 percent. Genting Singapore fell by 1.12 percent, Hongkong Land plummeted by 3.22 percent, while Keppel DC REIT and Keppel Ltd declined by 0.56 percent and 0.75 percent, respectively.

Other notable movements included Mapletree Pan Asia Commercial Trust, which plunged by 2.38 percent, alongside decreases reported by Mapletree Industrial Trust (0.91 percent) and Mapletree Logistics Trust (1.49 percent). Oversea-Chinese Banking Corporation dropped by 0.28 percent, whereas SATS increased slightly by 0.34 percent. Seatrium Limited surged by 2.35 percent as Yangzijiang Financial skyrocketed by 7.35 percent, with Yangzijiang Shipbuilding also surging by 2.90 percent. Thai Beverage, Wilmar International, and Comfort DelGro remained unchanged.

From Wall Street, there's a hint of mild positivity as major indexes opened lower on Monday but gradually ascended into positive territory. The Dow Jones Industrial Average gained 69.05 points or 0.18 percent, closing at 38,868.04, while the NASDAQ went up by 51.90 points or 0.35 percent to 17,192.53. The S&P 500 saw an increase of 13/80 points or 0.26 percent, ending at 5,360.79.

Market participants appear cautious as several key events loom this week, notably the Federal Reserve's monetary policy meeting. The Fed is anticipated to announce its latest decision on Wednesday, with expectations largely set on holding interest rates steady. Given this assumption, traders will likely focus on the Fed's new economic and rate projections.

Ahead of the Fed's announcement, attention will turn to the Labor Department's upcoming report on consumer price inflation for May.

In the oil markets, crude prices rose sharply on Monday amid optimism about future energy demand. West Texas Intermediate crude oil futures for July surged by $2.21, or roughly 2.9 percent, closing at $77.74 per barrel.