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Singapore stock market moves lower in two straight sessions

Singapore stock market

The STI dipped 11.87 points or 0.37 percent to end at 3,195.76 after trading between 3,191.44 and 3,221.85

The Singapore stock market has moved lower in two sessions in a row, dropping nearly 15 points or 0.5 percent along the way. The Straits Times Index (STI) now sits just above the 3,195-point mark although it may find traction on Thursday.

The STI ended modestly lower on Wednesday following losses from the financial shares, gains from the properties and a mixed picture from the industrials.

For the day, the index dipped 11.87 points or 0.37 percent to end at 3,195.76 after trading between 3,191.44 and 3,221.85. Volume was 1.92 billion shares worth 1.46 billion Singapore dollars. There were 273 gainers and 208 decliners.

Among the actives, Ascendas REIT spiked 0.98 percent, while CapitaLand rallied 0.80 percent, CapitaLand Integrated Commercial Trust gained 0.46 percent, City Developments accelerated 0.86 percent, Mapletree Logistics Trust added 0.51 percent, Singapore Airlines soared 1.06 percent, Singapore Exchange rose 0.30 percent and Yangzijiang Shipbuilding surged 3.97 percent.

Among the decliners, Oversea-Chinese Banking Corporation lost 0.34 percent, SATS slid 0.23 percent, SembCorp Industries tanked 1.02 percent, Singapore Press Holdings retreated 0.57 percent, Singapore Technologies Engineering sank 0.51 percent, SingTel skidded 0.81 percent, United Overseas Bank fell 0.27 percent, Wilmar International eased 0.18 percent, Comfort DelGro plunged 1.12 percent, Dairy Farm International shed 0.46 percent, DBS Group tumbled 1.00 percent, Genting Singapore declined 0.54 percent and Mapletree Commercial Trust dropped 0.47 percent.

In the US, the Dow advanced 16.02 points or 0.05 percent to end at 33,446.26, while the NASDAQ eased 9.54 points or 0.07 percent to finish at 13,688.84 and the S&P 500 rose 6.01 points or 0.15 percent to end at 4,079.95.

The choppy trading on Wall Street came as traders sought more clarity about the near-term outlook for the markets – which have risen to record highs in recent sessions, but traders may be concerned the markets are becoming overbought.

Traders also watched the minutes of the Federal Reserve’s latest monetary policy meeting, although the central bank only reiterated that it is unlikely to change its ultra-loose monetary policy anytime soon.

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