FX.co ★ Singapore Shares Likely To Open To The Upside On Friday

The Singapore stock market reversed its three-day losing streak on Thursday, recovering nearly 40 points, or 1.1%, positioning the Straits Times Index (STI) slightly above the 3,830-point level. Investor optimism for another positive opening on Friday is palpable.

Global markets are demonstrating resilience ahead of crucial U.S. employment data, anticipated later in the day. European exchanges showed gains, while U.S. markets were mixed, suggesting a varied performance for Asian markets.

The STI closed with moderate gains, bolstered by financial sectors, property shares, and industrial stocks. By the session's end, the index had climbed 15.05 points, or 0.39%, to conclude at 3,830.42, with trading fluctuating between 3,821.20 and 3,839.40.

On the active stocks front, CapitaLand Integrated Commercial Trust saw a spike of 1.55%, while CapitaLand Investment and Mapletree Logistics Trust each increased by 0.82%. City Developments appreciated by 0.40%, Comfort DelGro decreased by 1.43%, and Genting Singapore progressed by 0.68%. Hongkong Land experienced a substantial gain of 1.62%. Keppel DC REIT declined 0.91%, while Keppel Ltd surged 1.65%. Mapletree Industrial Trust and Mapletree Pan Asia Commercial Trust increased 0.95% and 0.85%, respectively. Oversea-Chinese Banking Corporation added 0.58%, and both SATS and Wilmar International rose 0.31%. Seatrium Limited jumped 1.40%, SembCorp Industries gained 0.56%, Singapore Technologies Engineering advanced 0.21%, SingTel was up by 0.62%, and Thai Beverage experienced a significant decrease of 1.89%. Yangzijiang Financial increased by 1.06%, Yangzijiang Shipbuilding fell by 1.63%, while DBS Group and Emperador remained unchanged.

Wall Street's performance was mixed, creating a complex outlook. Despite all major indices opening higher, the Dow soon lost momentum and ended the day in negative territory.

The Dow Jones Industrial Average declined by 125.65 points, or 0.28%, finishing at 44,747.63. Conversely, the NASDAQ gained 99.66 points, or 0.51%, closing at 19,971.99, while the S&P 500 added 22.09 points, or 0.36%, to end at 6,083.57.

Volatile trading mirrored traders’ caution as they awaited the Labor Department's monthly jobs report scheduled for release today, which could influence the Federal Reserve's interest rate policies.

Ahead of the employment data, the Labor Department reported an unexpected rise in weekly U.S. unemployment benefits claims.

Meanwhile, crude oil prices continued their downward trend, with President Donald Trump reiterating his intent to augment U.S. oil production to curb prices. West Texas Intermediate crude for March delivery dipped $0.42, or 0.6%, reaching a one-month low of $70.61 per barrel.