Singapore Shares Tipped To Remain Rangebound

The Singapore stock market has moved higher in two of three trading days since the end of the two-day losing streak in which it had slipped more than 15 points or 0.4 percent. The Straits Times Index now sits just beneath the 3,160-point plateau and it’s expected to see little movement again on Monday.

The global forecast for the Asian markets is murky ahead of earnings news and a FOMC rate decision and statement later this week. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to follow the latter lead.

The STI finished modestly higher on Friday following gains from the financials and mixed performances from the properties and industrials.

For the day, the index added 11.89 points or 0.38 percent to finish at 3,159.53 after trading between 3,148.67 and 3,179.24.

Among the actives, Ascendas REIT sank 0.69 percent, while City Developments eased 0.16 percent, DBS Group collected 0.56 percent, Genting Singapore surged 3.59 percent, Keppel DC REIT plunged 2.22 percent, Keppel Ltd fell 0.29 percent, Mapletree Pan Asia Commercial Trust retreated 1.40 percent, Mapletree Industrial Trust added 0.41 percent, Oversea-Chinese Banking Corporation climbed 0.62 percent, Seatrium Limited slumped 0.95 percent, SembCorp Industries dropped 0.73 percent, Singapore Technologies Engineering tumbled 1.55 percent, Wilmar International rallied 1.20 percent, Yangzijiang Shipbuilding advanced 0.60 percent and Mapletree Logistics Trust, Hongkong Land, Yangzijiang Financial, CapitaLand Integrated Commercial Trust, CapitaLand Investment, SingTel, Thai Beverage, Comfort DelGro, Emperador and SATS were unchanged.

The lead from Wall Street offers little guidance as the major averages opened lower on Friday, surged midday but plummeted late in the section to end mixed and little changed.

The Dow rose 60.33 points or 0.16 percent to finish at 38,109.43, while the NASDAQ slumped 55.14 points or 0.36 percent to close at 15,455.36 and the S&P 500 dipped 3.19…