Singapore Bourse May Test Support At 3,100 Points

The Singapore stock market has finished lower in two of three trading days since the end of the two-day winning streak in which it had risen more than a dozen points or 0.3 percent. The Straits Times Index now sits just beneath the 3,135-point plateau and it may extend its losses on Tuesday.

The global forecast for the Asian markets is soft on fading hopes that the FOMC will trim interest rates at next month’s meeting. The European and U.S. markets were down and the Asian markets figure to follow suit.

The STI finished sharply lower on Monday following losses from the financial shares, property stocks and industrial issues.

For the day, the index slumped 45.48 points or 1.43 percent to finish at 3,134.29 after trading between 3,123.10 and 3,154.72.

Among the actives, Ascendas REIT tumbled 2.79 percent, while CapitaLand Integrated Commercial Trust weakened 2.49 percent, CapitaLand Investment tanked 3.04 percent, City Developments shed 2.15 percent, Comfort DelGro fell 0.71 percent, DBS Group was down 1.15 percent, Emperador and Genting Singapore both gave up 0.98 percent, Hongkong Land advanced 0.95 percent, Keppel DC REIT dropped 2.41 percent, Keppel Ltd declined 2.61 percent, Mapletree Pan Asia Commercial Trust plummeted 4.03 percent, Mapletree Industrial Trust fell 1.63 percent, Mapletree Logistics Trust lost 1.96 percent, Oversea-Chinese Banking Corporation dipped 1.46 percent, SATS eased 0.35 percent, Seatrium Limited plunged 4.00 percent, SembCorp Industries sank 2.24 percent, Singapore Technologies Engineering slipped 1.32 percent, SingTel slumped 2.46 percent, Thai Beverage surrendered 2.86 percent, Wilmar International retreated 2.69 percent, Yangzijiang Financial slid 1.59 percent and Yangzijiang Shipbuilding skidded 2.42 percent.

The lead from Wall Street negative as the major averages opened lower on Monday and remained in the red throughout the trading day.

The Dow tumbled 274.30 points or 0.71 percent to finish at 38,380.12, while the NASDAQ shed 31.28…