The Singapore stock market has recorded declines for two consecutive sessions, shedding over 30 points or approximately 0.8%. Currently, the Straits Times Index is positioned just below the 3,825-point benchmark, although a recovery is anticipated as trading resumes on Wednesday.
Globally, the outlook for Asian markets is positive, buoyed by diminishing fears of a trade war. While European markets displayed mixed performances, U.S. markets experienced upward momentum, suggesting that Asian markets may settle somewhere in between.
On Tuesday, the STI saw a slight decrease, influenced by downturns in the property and industrial sectors, while financial stocks showed a mixed performance. Specifically, the index decreased by 3.46 points or 0.09%, closing at 3,817.58, while earlier hitting a high of 3,858.17.
In terms of active stocks, CapitaLand Investment saw an increase of 1.65%, whereas City Developments fell by 0.60% and Comfort DelGro declined by 0.71%. DBS Group inched upwards by 0.25%, while DFI Retail Group surged by 2.19%. Elsewhere, Genting Singapore rose by 0.67%, but Hongkong Land decreased by 0.92%, and Keppel DC REIT dropped by 1.83%. Keppel Ltd retreated by 1.63%, while Mapletree Industrial Trust climbed by 0.95% and Mapletree Logistics Trust advanced by 0.83%. SATS stumbled by 1.79%, Seatrium Limited saw a fall of 0.46%, SembCorp Industries declined by 1.82%, and Singapore Technologies Engineering registered a drop of 1.03%. Among others, SingTel rose by 0.31%, Thai Beverage slumped by 0.93%, Venture Corporation plummeted by 3.23%, and Wilmar International gained 0.63%. Yangzijiang Financial tumbled by 1.06%, Yangzijiang Shipbuilding lost 0.66%, and several stocks, including CapitaLand Integrated Commercial Trust and others, remained unchanged.
In the United States, Wall Street showed strength with key indices closing decisively in positive territory after an initially mixed open. The Dow Jones Industrial Average climbed by 134.13 points or 0.30%, ending at 44,556.04. Meanwhile, the NASDAQ Composite rallied by 262.06 points or 1.35%, closing at 19,654.02, and the S&P 500 increased by 43.31 points or 0.72%, finishing at 6,037.88.
Wall Street's gains partially stemmed from eased fears of a global trade conflict after President Donald Trump agreed to temporarily halt the imposition of 25% tariffs on imports from Mexico and Canada for one month. Additionally, upbeat sentiment was driven by a U.S. Labor Department report revealing a more-than-expected decrease in job openings for December, which fostered optimism regarding interest rate projections ahead of the forthcoming monthly jobs report.
Oil prices dipped on Tuesday following Trump's decision to delay tariffs on Canadian and Mexican exports to the U.S. West Texas Intermediate Crude oil futures for March settled at $72.70 per barrel, down $0.46, or approximately 0.63%.
Back in Singapore, December retail sales figures are scheduled for release today; previously, sales figures declined by 2.8% month-on-month and 0.7% year-on-year in November.
