The Singapore stock market ended its two-day losing streak on Tuesday, where it previously lost over 20 points or 0.6 percent. The Straits Times Index (STI) now hovers slightly above the 3,590 mark. However, it might experience limited movement on Wednesday.
The international forecast for Asian markets remains uncertain. Technology shares could potentially offer a modest lift. Meanwhile, European markets faced declines, and U.S. exchanges had mixed results, which may result in a mixed outcome for Asian markets.
On Tuesday, the STI saw a marginal increase, driven by varying performances across financial, property, and industrial sectors. The index concluded the day with an increase of 6.28 points, or 0.18 percent, reaching a high of 3,590.36 after dipping to a low of 3,568.70 during the session.
Key market activities included CapitaLand Integrated Commercial Trust, which fell by 0.97 percent, CapitaLand Investment, which dropped 0.35 percent, and City Developments, which decreased by 0.39 percent. Conversely, DBS Group gained 0.54 percent, while Emperador and Yangzijiang Shipbuilding both saw an uplift of 1.19 percent. Genting Singapore rose by 0.60 percent, although Hongkong Land plunged 1.52 percent. Keppel Ltd saw a modest rise of 0.31 percent. Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust, and Mapletree Logistics Trust experienced declines of 0.75 percent, 1.65 percent, and 1.47 percent, respectively. Oversea-Chinese Banking Corporation advanced 1.05 percent, while SATS decreased by 0.51 percent. Notable declines were observed in SembCorp Industries, which fell 1.34 percent, Singapore Technologies Engineering, down 0.64 percent, and SingTel, which shed 0.62 percent. Wilmar International declined 0.31 percent, Yangzijiang Financial dropped 1.22 percent, while Comfort DelGro, Frasers Centrepoint Trust, DFI Retail Group, Seatrium Limited, Keppel DC REIT, and Thai Beverage showed no movement.
Wall Street's performance remained ambiguous as major indices opened lower on Tuesday, fluctuating near the baseline before ending with mixed results. The Dow lost 154.52 points or 0.36 percent, ending at 42,233.05. Meanwhile, the NASDAQ soared by 145.56 points or 0.78 percent, setting a record at 18,712.75. The S&P 500 managed a rise of 9.40 points or 0.16 percent to close at 5,832.92.
The NASDAQ's climb anticipated earnings reports from leading tech entities such as Alphabet (GOOGL), Advanced Micro Devices (AMD), Meta Platforms (META), Microsoft (MSFT), Amazon (AMZN), and Apple (AAPL). Semiconductor stocks demonstrated significant upward movement, which propelled the Philadelphia Semiconductor Index up by 2.3 percent.
In U.S. economic updates, the Conference Board reported a noticeable enhancement in consumer confidence in October. Additionally, the Labor Department revealed that job openings dipped to 7.44 million in September, from an adjusted 7.86 million in August.
Oil futures declined again on Tuesday, amid worries that supply might significantly outstrip demand in the near term. West Texas Intermediate Crude oil futures for December fell by $0.17, or roughly 0.25 percent, closing at $67.21 per barrel.
