Singapore Exchange is one of many leading stock exchanges in Asia and is certainly one of its products. is a derivative product of the Singapore Stock Exchange that allows foreign investors to take a position in the Indian market. It is known because it's traded on the Singapore Stock Exchange. So, if you're trying to find an Indian stock that's tradable in Singapore, that is probably your absolute best bet.
Singapore market opens around 2 hours ahead of the Indian market and directly pertains to the NSE market. It moves concerning the Indian Nifty and hence may be used as something to predict the Indian market providing initial direction to the Indian market. Moreover, both India and Singapore fall in exactly the same continent, which co-related both markets and one usually decides the sentiments of one other market. And also this makes it easy for Indian advisory and financial institutions to provide trading recommendations on Nifty before opening.
The Singapore stock market on Monday ended the two-day losing streak by which it had dropped almost 40 points or 1.2 per cent. The Straits Times Index now rests just above the 3,255-point plateau although it's more likely to head south again on Tuesday. The global forecast for the Asian markets is mixed to reduce concerns over the fitness of the global economy and the outlook for interest rates. The European markets were up and the U.S. bourses were down and the Asian markets figure to follow along with the latter lead.
The STI finished modestly higher on Monday as gains from the financial shares and property stocks were dented by weakness from the trusts and a combined picture from the industrials. For your day, the index gained 15.80 points or 0.49 per cent to finish at 3,256.61 after trading between 3,239.50 and 3,273.35. On the list of actives, Ascendas REIT retreated 0.74 per cent, while CapitaLand Integrated Commercial Trust dropped 0.50 per cent, CapitaLand Investment climbed 0.83 per cent, City Developments was up 0.12 per cent, DBS Group advanced 0.80 per cent, Genting Singapore jumped 1.07 per cent, Hongkong Land soared 2.00 per cent, Keppel Corp fell 0.27 per cent, Mapletree Pan Asia Commercial Trust tumbled 1.80 per cent, Mapletree Industrial
Trust declined 0.90 per cent, Mapletree Logistics Trust slumped 0.62 per cent, Oversea-Chinese Banking Corporation perked 0.16 per cent, SATS gained 0.71 per cent, SembCorp Industries gathered 0.30 per cent, SingTel surged 2.36 per cent, United Overseas Bank collected 0.78 per cent, Wilmar International rose 0.49 per cent, Yangzijiang Financial spiked 1.45 per cent, Yangzijiang Shipbuilding added 0.72 per cent and Singapore Technologies Engineering, Thai Beverage, Comfort DelGro, Emperador and UOL Group were unchanged. The lead from Wall Street is negative whilst the major averages fluctuated early Monday however headed well into the red and finished under pressure.
The Dow dropped 162.92 points or 0.49 per cent to complete at 32,757.54, as the NASDAQ retreated 159.38 points or 1.49 per cent to close at 10,546.03 and the S&P 500 slumped 34.70 points or 0.90 per cent to end at 3,817.66.
The extended weakness on Wall Street came as traders continue to state concerns concerning the outlook for the economy. The Federal Reserve said it'll continue raising interest rates next season, resulting in worries the aggressive policy tightening will tip the economy right into a recession. In U.S. economic news, the National Association of Home Builders reported that homebuilder confidence in the U.S. unexpectedly saw continued deterioration in December.
Crude oil prices climbed higher on Monday amid optimism about increased demand for oil from China after the country relaxed certain COVID-related restrictions. West Texas Intermediate Crude oil futures for January ended higher by $0.91 or 1.25 per cent at $75.20 a barrel
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