Singapore, March 13, 2025 – Singapore's Straits Times Index (STI) snapped a three-day losing streak on Wednesday, closing slightly higher amid renewed optimism driven by lower-than-expected U.S. inflation data and bargain hunting. The STI, which had shed approximately 100 points, or 2.5%, in the preceding three sessions, managed to regain some ground, closing at 3,833.07 points, up 7.24 points or 0.19%.
Market Highlights:
Positive Global Outlook: Asian markets are expected to see positive momentum, fueled by bargain-hunting and increased hopes for interest rate cuts.
European markets closed higher, and while U.S. markets showed a mixed performance, Asian markets are likely to follow the upward trend set by Europe.
Singapore Market Performance: The STI's modest gains were primarily driven by strong performances in the REITs and property sectors.
The financial and industrial sectors experienced mixed results.
Key Gainers: CapitaLand Integrated Commercial Trust (+2.46%)
CapitaLand Investment (+1.18%)
Keppel DC REIT (+4.88%)
Mapletree Pan Asia Commercial Trust (+2.5%)
Mapletree Logistics Trust (+3.2%)
DFI Retail (+8.57%)
Yangzijiang Financial (+3.88%)
Key Losers: ComfortDelGro (-2.08%)
Oversea-Chinese Banking Corporation (-0.60%)
SATS (-1.31%)
Seatrium Limited (-1.43%)
SembCorp Industries (-0.49%)
Singapore Technologies Engineering (-0.99%)
Yangzijiang Shipbuilding (-0.85%)
U.S. Market Overview: U.S. stocks closed mixed.
The Dow Jones Industrial Average fell 82.55 points (0.20%) to close at 41,350.93 points.
The NASDAQ Composite Index rose 212.35 points (1.22%) to close at 17,648.45 points.
The S&P 500 gained 27.23 points (0.49%) to close at 5,599.30 points.
U.S. labor department released February's CPI data, and the lower rate than expected increased the hope that the Federal Reserve will begin to cut interest rates.
However, concerns about the impact of new trade policies limited buying activity.
Crude Oil Market:Crude oil prices rose after data showed a smaller-than-expected increase in U.S. crude oil inventories.
West Texas Intermediate (WTI) crude for April delivery rose $1.43 (2.16%) to settle at $67.68 per barrel.
Market Analysis:
The Singapore stock market's rebound was primarily attributed to positive global market sentiment and the strong performance of REITs and property stocks. The easing of inflation signals from the U.S. has boosted expectations for Federal Reserve interest rate cuts, improving investor confidence. However, uncertainties related to trade policies continue to weigh on the market.
Looking ahead, the Singapore stock market is expected to remain volatile, influenced by global economic indicators, major corporate earnings reports, and fluctuations in international oil prices.
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