FX.co ★ Singapore Bourse May Extend Monday's Losses

Singapore's stock market has been fluctuating for the past four trading days following a three-day losing streak in which it dipped by nearly 35 points or 1.1%. The Straits Times Index is now slightly below the 3,140-point mark, and it's expected to open with difficulties again on Tuesday.

There's a mixed to lower global forecast for Asian markets due to upcoming inflation data that could affect interest rates' outlook. European and U.S. markets showed little change, and Asian markets are expected to follow.

On Monday, the STI closed slightly lower due to losses from financial shares, gains in the industrial sector, and a varying performance in the property sector. The index dropped 8.67 points or 0.28%, ending at 3,138.42 after fluctuating between 3,133.72 and 3,148.82 throughout the day.

Active stocks varied. Ascendas REIT slipped 0.37% and CapitaLand Integrated Commercial Trust fell 0.51%, while City Developments boosted 3.13%. DBS Group sank 0.44% and Emperador declined 3.00%, but Comfort DelGro advanced 0.74% and Keppel Ltd rose 0.28%. Mapletree Industrial Trust retreated 1.29% and Mapletree Logistics Trust tumbled 1.35%, but SATS managed to add 0.39%.

Wall Street opened lower on Monday and generally remained that way, though the Dow rose slightly higher towards the end of the day. It added 46.97 points or 0.12% to close at 38,769.66. Meanwhile, the NASDAQ fell 65.84 points or 0.41% to 16,019.27, and the S&P 500 dipped 5.75 points or 0.11% to 5,117.94.

Market participants are uncertain about future interest rates as they wait for key inflation data to be released. Federal Reserve officials have stated they need more assurance that inflation is slowing down before contemplating rate cuts.

While the Federal Reserve is anticipated to maintain the current rates during next week’s policy meeting, the upcoming data may influence expectations about future rate cuts.

Concerns about China's demand outlook and the pending U.S. consumer price inflation data caused oil futures to drop on Monday. West Texas Intermediate Crude oil futures for April dipped $0.08 or 0.1% to $77.93 a barrel, marking the third consecutive session of decline.