Singapore Stock Market Likely To Open Under Water

(RTTNews) - The Singapore stock market has finished lower in two straight sessions, dropping more than 20 points or 0.5 percent along the way. The Straits Times Index now rests just above the 4,840-point plateau and it's likely to open under pressure again on Monday.

The global forecast for the Asian markets is soft on continuing concerns over the war in the Middle East and the resulting surge in oil prices. The European and U.S. markets were down and the Asian bourses are expected to follow to the downside.

The STI finished modestly lower on Friday following losses from the financial shares, property stocks and industrial issues, while the retail sector offered support.

For the day, the index fell 13.06 points or 0.27 percent to finish at 4,842.27 after trading between 4,833.14 and 4,866.75.

Among the actives, CapitaLand Investment retreated 1.05 percent, while City Developments declined 0.77 percent, DBS Group eased 0.11 percent, DFI Retail Group surged 4.22 percent, Genting Singapore and Yangzijiang Shipbuilding both slumped 0.75 percent, Hongkong Land soared 3.77 percent, Keppel DC REIT fell 0.44 percent, Keppel Ltd stumbled 1.15 percent, Mapletree Pan Asia Commercial Trust dropped 0.74 percent, Mapletree Logistics Trust crashed 1.64 percent, Oversea-Chinese Banking Corporation lost 0.58 percent, SATS tanked 1.37 percent, Seatrium Limited cratered 1.66 percent, Singapore Airlines plunged 1.95 percent, Singapore Exchange added 0.55 percent, Singapore Technologies Engineering plummeted 2.42 percent, SingTel shed 0.60 percent, Thai Beverage tumbled 1.12 percent, United Overseas Bank dipped 0.22 percent, UOL Group sank 0.68 percent, Wilmar International rallied 1.33 percent and CapitaLand Ascendas REIT, CapitaLand Integrated Commercial Trust, Mapletree Industrial Trust, SembCorp Industries and Frasers Centrepoint Trust were unchanged.

The lead from Wall Street is weak as the major averages opened higher on Friday but turned lower as the day progressed, slipping into the red and finishing at session lows.

The Dow dropped 119.43 points or 0.26 percent to finish at 46,558.47, while the NASDAQ tumbled 206.64 points or 0.93 percent to close at 22,105.36 and the S&P 500 sank 40.43 points or 0.61 percent to end at 6,632.19. For the week, the Dow plunged 2.0 percent, the S&P dropped 1.6 percent and the NASDAQ slumped 1.3 percent.

The pullback seen over the course of the session came as trading continued to be largely driven by reaction to crude oil prices.

Stocks initially benefited from a pullback by the price of crude oil, with crude for April delivery plunging by as much as 3.9 percent after skyrocketing over the course of the two previous sessions.

Crude oil prices again showed a substantial move to the upside on Friday as uncertainty prevails about the timeline for ending the war. West Texas Intermediate crude for April delivery was up $3.35 or 3.50 percent at $98.08 per barrel.

In economic news, the Commerce Department said the annual rate of consumer price growth unexpectedly slowed in January. A separate report from the Commerce Department showed U.S. economic growth slowed much more than estimated in the fourth quarter of 2025.