FX.co ★ Singapore Bourse May Extend Thursday's Losses

The Singapore stock market has shown a pattern of alternating increases and decreases over the last four trading sessions since concluding a four-day losing streak, during which it fell by over 65 points, equivalent to 1.8 percent. Currently, the Straits Times Index is positioned just above the 3,575 mark and is expected to experience pressure once again when trading resumes on Friday.

The forecast for Asian markets indicates a relatively flat performance, as investors anticipate crucial U.S. employment data due out later in the day. Both European and U.S. markets experienced declines, suggesting that Asian markets may follow suit.

On Thursday, the Straits Times Index saw a minor decline, reflecting varied performances across the financial, property, and industrial sectors. Specifically, the index decreased by 7.24 points or 0.20 percent, closing at 3,577.43, and fluctuated between 3,576.82 and 3,604.56 during the day.

Notably active stocks included CapitaLand Integrated Commercial Trust, which declined by 0.47 percent, and CapitaLand Investment, which dropped by 1.90 percent. In contrast, City Developments saw a rise of 0.74 percent. Meanwhile, Comfort DelGro and Mapletree Logistics Trust each decreased by 0.67 percent, DBS Group edged up by 0.19 percent, while DFI Retail Group plunged by 3.08 percent. Genting Singapore fell by 0.57 percent, Hongkong Land decreased by 1.03 percent, Keppel DC REIT slipped by 0.46 percent, but Keppel Ltd increased by 0.76 percent. Other movements included Mapletree Pan Asia Commercial Trust rising by 0.66 percent, Mapletree Industrial Trust climbing by 1.20 percent, Oversea-Chinese Banking Corporation dipping by 0.33 percent, SATS jumping by 1.34 percent, Seatrium Limited advancing by 1.14 percent, SembCorp Industries falling by 0.90 percent, Singapore Technologies Engineering dropping by 0.64 percent, and Thai Beverage tumbling by 1.87 percent. Wilmar International eased by 0.30 percent, Yangzijiang Financial rallied by 1.27 percent, and Yangzijiang Shipbuilding declined by 0.80 percent, while Emperador, SingTel, and Frasers Logistics & Commercial Trust remained unchanged.

Wall Street offered a subdued lead, with the major averages opening lower on Thursday and maintaining modest losses throughout the day. The Dow fell by 184.93 points or 0.44 percent to 42,011.59, the NASDAQ fell slightly by 6.65 points or 0.04 percent to finish at 17,918.47, and the S&P 500 decreased by 9.60 points or 0.17 percent to close at 5,699.94.

This tentative trend on Wall Street reflects traders' reticence to make significant moves ahead of the much-anticipated monthly jobs report from the U.S. Labor Department, which is due on Friday. This data could significantly influence perspectives on the U.S. economic landscape and expectations about the Federal Reserve's future interest rate strategies.

Additionally, investors are monitoring developments in the Middle East, where escalating conflicts have spurred a dramatic rise in crude oil prices.

Oil prices experienced a sharp upward movement on Thursday due to tensions in the Middle East, particularly the escalating conflict between Israel and Iran, which has raised supply disruption concerns. West Texas Intermediate Crude oil futures for November soared by $3.61 or 5.2 percent, settling at $73.71 per barrel.

On the domestic front, Singapore is set to release retail sales figures for August later today; previously, sales had increased by 3.1 percent month-on-month and 1.0 percent year-on-year in July.