(RTTNews) – Singapore’s stock market ended higher in three straight sessions, rallying nearly 25 points or 0.8% along the way. The Straits Times Index now sits just above the 3,095 point plateau and it could extend its gains on Friday.
Global forecasts for Asian markets are optimistic about easing worries about the virus, rising crude oil prices and strong economic data. European and American markets were on the rise and Asian markets are expected to open similarly.
The STI ended slightly higher on Thursday following gains in financial stocks, real estate stocks and plantations.
For the day, the index rose 9.30 points or 0.30% to close at 3,096.81 after trading between 3,090.25 and 3,104.18. The volume was 878.5 million shares valued at S $ 515.8 million. There were 265 winners and 169 decline.
Among assets, Ascendas REIT fell 0.34%, while CapitaLand Integrated Commercial Trust and Mapletree Commercial Trust both gained 0.51%, City Developments jumped 0.76%, Comfort DelGro climbed 0, 74%, Dairy Farm International jumped 2.23%, DBS Group grew 0.37%, Genting Singapore grew 0.66 percent, Hongkong Land grew 1.17 percent, Keppel Corp rose 0.39 percent, Mapletree Logistics Trust added 0.54 percent, Oversea-Chinese Banking Corporation collected 0.44 percent, SATS accelerated 1.32 percent, SembCorp Industries lost 0.50 percent , Singapore Airlines rose 1.45 percent, Singapore Exchange rose 0.11%, Singapore Press Holdings lost 0.43%, Thai Beverage fell 0.75%, Wilmar International rose 1.50 % and Yangzijiang Shipbuilding, Singapore Technologies Engineering, United Overseas Bank and SingTel remained unchanged.
Wall Street’s lead is positive as major averages opened higher on Thursday and remained comfortably in the green throughout the session, ending near all-time highs.
The Dow Jones jumped 196.67 points or 0.55% to close at 35,950.56, while the NASDAQ climbed 131.48 points or 0.85% to close at 15,653.37 and the S&P 500 rose 29.23 points or 0.62% to end at 4,725.79. For the holiday week, the NASDAQ climbed 3.2%, the S&P improved 2.3% and the Dow Jones gained 1.7%.
Mitigation of concerns about the Omicron variant of the coronavirus has contributed to Wall Street’s continued strength, as separate studies have indicated that the new strain poses a lower risk of serious illness and hospitalization than the Delta variant.
Traders have also reacted to a plethora of economic data, including a Department of Labor report showing that the first claims for unemployment benefits in the United States remained stable last week. In addition, the Commerce Department said new orders of manufactured durable goods in the United States rose much more than expected in November.
Meanwhile, the Commerce Department also noted a continued acceleration in the pace of growth in basic consumer prices last month, and also that new home sales have skyrocketed.
Crude oil futures took gains to a third day in a row amid hopes over the outlook for energy demand as concerns over the Omicron variant of the coronavirus faded. West Texas Intermediate crude oil futures for February ended up $ 1.03 or 1.4% at $ 73.79 a barrel.
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