Singapore Stock Market May Add To Its Winnings On Thursday

The Singapore stock market bounced higher again on Wednesday, one day after ending the three-day winning streak in which it had picked up more than 30 points or 1 percent. The Straits Times Index now sits just above the 3,170-point plateau and it may see additional support on Thursday.

The global forecast for the Asian markets is cautiously optimistic as traders look to add window dressing ahead of the year’s end. The European and U.S. markets were slightly higher and the Asian bourses figure to follow suit.

The STI finished modestly higher on Wednesday following gains from the financial shares, property stocks and industrial issues.

For the day, the index advanced 30.78 points or 0.98 percent to finish at 3,170.76 after trading between 3,139.80 and 3,176.54.

Among the actives, Ascendas REIT was up 0.34 percent, while CapitaLand Integrated Commercial Trust advanced 1.00 percent, CapitaLand Investment strengthened 1.67 percent, City Developments soared 2.18 percent, DBS Group climbed 1.38 percent, DFI Retail skyrocketed 5.58 percent, Emperador improved 0.95 percent, Genting Singapore perked 0.51 percent, Hongkong Land rallied 1.49 percent, Keppel Corp increased 0.87 percent, Keppel DC REIT spiked 2.14 percent, Mapletree Pan Asia Commercial Trust accelerated 2.00 percent, Mapletree Industrial Trust added 0.81 percent, Mapletree Logistics Trust gathered 0.59 percent, Oversea-Chinese Banking Corporation collected 1.03 percent, SATS rose 0.74 percent, Seatrium Limited jumped 1.77 percent, SembCorp Industries picked up 0.20 percent, Singapore Technologies Engineering gained 0.79 percent, SingTel fell 0.41 percent, Thai Beverage surged 3.96 percent and Wilmar International, Yangzijiang Financial, Yangzijiang Shipbuilding, Comfort DelGro and Frasers Logistics were unchanged.

The lead from Wall Street is mildly positive as the major averages opened higher on Wednesday, slipped in and out of the red before finishing with modest gains.

The Dow climbed 111.19 points or 0.30…