Singapore stock market slightly up, may stall due to global forecast, profit-taking

From Nasdaq: 2024-12-30 19:03:24

The Singapore stock market has seen a slight uptick, with the Straits Times Index nearing the 3,800-point mark. However, a soft global forecast could lead to profit-taking by year-end, especially in the tech sector. On Monday, the STI closed higher thanks to gains from financial, property, and industrial stocks.

Wall Street experienced a weak day of trading, with the Dow, NASDAQ, and S&P 500 all closing lower. Traders are likely taking profits before the new year, although the tech-heavy NASDAQ is still up nearly 30% for the year.

Oil prices hit a five-week high on Monday, boosted by a larger than expected drop in U.S. crude inventories and increased demand from China. West Texas Intermediate Crude futures rose to $70.99 a barrel.



Read more at Nasdaq: Rally May Stall For Singapore Stock Market