Expected Support around 3,200 Points; Singapore Bourse

Singapore Bourse

The stock market in Singapore has slumped down in the last two sessions, falling at 0.4% during this.

The worldwide prediction for markets in Asia is not looking good, however markets in Europe were overall mixed and American bourses were a bit higher.

The STI ended a bit lower on Tuesday after loses from financial shares and property stocks.

Overall, the index dropped around 0.16% and ended on 3,200.80 after going between 3,192.82 and 3,217.83. 3,192.82 and 3,217.83

From those that were active, Yangzijiang Shipbuilding fell 2.73%, with Golden Agri-Resources soaring to  2.33%, Maple tree Commercial Trust rose 1.32%, Thai Beverage dropped 1.10%, Genting Singapore accelerated 1.08%, Singapore Press Holdings went up to 0.95%, and Singapore Airlines saw no change.

The lead from Wall Street is carefully positive as the major averages were quite underwhelming this Tuesday, yet they managed to claw themselves closer to new record closing highs.

The Dow put up 31.27 points which is 0.11% to 28,267.16, with the NASDAQ gaining 9.13 points or 0.10% to 8,823.36 and the S&P 500 rose 1.07 points or 0.03% to 3,192.52.

The shoddy trading on Wall Street was due to hesitant traders not making any notable moves while waiting to figure out the next thing that will drive the markets.

During this, they were hesitant to capitalize on the latest market strength as a batch of upbeat US economic data was leaked.

Another report displayed industrial produce in the US to be affected heavily from rebound last month, beyond what was anticipated.

Crude oil price saw a positive recently, benefitting from hooe that the phase one U.S.-China trade deal will lead to an increase in energy demand. Crude for January delivery climbed $0.73 to a three-month closing high of $60.94 a barrel, rising for the fourth straight day.