The Singapore market rebounded on Friday, recovering from a brief pause in a three‑day rally that added roughly 50 points, or 1.6 %. The Straits Times Index now hovers just below the 3,260‑point level and is poised to extend gains on Monday.
Global sentiment for Asian equities remains positive following encouraging inflation data and a more favorable interest‑rate outlook. European and U.S. markets closed higher, suggesting Asian bourses will open with modest gains.
On Friday, the STI rose modestly, with property and trust sector gains offset by weakness in financials and a mixed performance from industrials.
The index advanced 1.72 points, or 0.05 %, to close at 3,258.90, after ranging between 3,255.59 and 3,273.47.
Notable performers included Ascendas REIT (+1.42 %), CapitaLand Integrated Commercial Trust (+2.59 %), CapitaLand Investment (+0.82 %), Comfort DelGro (−0.84 %), DBS Group (−1.49 %), Emperador (−0.98 %), Frasers Logistics (+4.80 %), Genting Singapore (+2.75 %), Hongkong Land (+0.46 %), Keppel Corp (+0.18 %), Mapletree Pan Asia Commercial Trust (+0.56 %), Mapletree Industrial Trust (+2.16 %), Mapletree Logistics Trust (+0.59 %), Oversea‑Chinese Banking Corporation (−0.16 %), SATS (−0.36 %), SembCorp Industries (+1.86 %), Singapore Technologies Engineering (+0.55 %), SingTel (+0.41 %), Thai Beverage (−2.33 %), United Overseas Bank (−0.27 %), Wilmar International (+0.24 %), Yangzijiang Financial (+1.35 %), Yangzijiang Shipbuilding (−0.83 %) and City Developments (unchanged).
Wall Street provided a solid boost, with major indices opening higher on Friday and gaining momentum to close near session highs.
The Dow rose 415.15 points (1.26 %) to 33,274.15, the NASDAQ gained 208.41 points (1.73 %) to 12,221.91, and the S&P 500 added 58.48 points (1.44 %) to close at 4,109.31.
Over the week, the S&P 500 surged 3.5 %, the NASDAQ advanced 3.4 % and the Dow climbed 3.2 %.
The rally was spurred by a Commerce Department report that showed an unexpected slowdown in the year‑over‑year core consumer price growth.
Because this core inflation metric is a key focus for the Federal Reserve, the data fueled optimism that the central bank will pause rate hikes at its early‑May meeting.
Crude oil prices rose on Friday, driven by declining inventories and hopeful demand prospects. May WTI futures settled $1.30 higher, up 1.8 % at $75.67 a barrel. Weekly gains stood at 9.2 %, though the contract fell 1.8 % in March and 6 % in the first quarter.
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