The Singapore stock market continues to face downward pressure, with the Straits Times Index (STI) dipping nearly 15 points or 0.3% over consecutive trading days, closing at 4,989.08. The outlook for Asian markets remains bleak, influenced by rising oil prices, geopolitical tensions in the Middle East, and uncertainty surrounding interest rates. This negative sentiment is mirrored by declines in major global indices, including the Dow, NASDAQ, and S&P 500, which all finished lower on Friday.

Sector performance in Singapore reflects this trend, with financials, property stocks, and industrials contributing to the STI’s decline. Notable movements included CapitaLand Ascendas REIT and CapitaLand Investment, both down, while Singapore Airlines saw a modest rise of 2.39%. Investors are particularly cautious as the yield on the benchmark 10-year treasury note has surged, raising concerns about future interest rate hikes.

As Singapore prepares to release April’s non-oil domestic export figures, market professionals should closely monitor these developments, as they could provide insights into the resilience of the local economy amidst broader market volatility.

Source: nasdaq.com