Potential Prolonged Success for Singapore Stock Exchange

Potential Prolonged Success for Singapore Stock Exchange

**Singapore Stock Market and Specific Stocks Analysis**

The Singapore stock market, represented by the STI, has been on an upward trajectory, reaching a 52-week high, largely driven by global market optimism and resilience against volatility [1][3]. The market has benefited from a strong year-to-date (YTD) performance, with the FSSTI Index rising 6.1% YTD [1].

The STI added 8.80 points or 0.22 percent to finish at 4,019.57 on Thursday, following a positive reaction to the job growth data from the Labor Department, despite it potentially reducing the chances of a near-term interest rate cut by the Federal Reserve [4]. The index is close to the 4,020-point plateau and is expected to open higher on Friday [5].

The Singapore stock market has advanced more than 55 points or 1.3 percent in three consecutive sessions [6]. Key economic releases, including advance GDP data for the second quarter, will influence market sentiment. Positive data could maintain the market's upward momentum [2].

In the sectoral analysis, the real estate and financial sectors have been strong contributors to the market's performance. Bukit Sembawang Estates reported a significant increase in profits, suggesting a robust real estate sector [1].

As for specific stocks, while there are no specific forecasts for CapitaLand Ascendas REIT, CapitaLand Integrated Commercial Trust, UOB, SingTel, and Wilmar International in the provided data, the overall positive momentum in the Singapore stock market and favorable sector conditions suggest potential for continued growth. Investors should monitor upcoming economic releases and sector-specific news for more precise guidance.

On Thursday, the S&P 500 ended at 6,279.35, gaining 51.93 points or 0.83 percent, and the NASDAQ closed at 20,601.10, jumping by 207.97 points or 1.02 percent [7][8]. Crude oil settled lower, with West Texas Intermediate crude closing down by $0.45 to $67 per barrel, due to excess U.S. inventories and an upcoming OPEC+ meeting that triggered supply side concerns [9].

Singapore will release May numbers for retail sales later today [10]. Among the active stocks, CapitaLand Ascendas REIT added 0.73 percent, while CapitaLand Integrated Commercial Trust shed 0.45 percent [11]. Other notable movements include SATS losing 0.32 percent, Singapore Technologies Engineering gaining 0.63 percent, SingTel sinking 0.77 percent, United Overseas Bank was up 0.03 percent, UOL Group slumped 1.19 percent, Wilmar International jumped 1.03 percent, and Yangzijiang Financial skyrocketed 6.96 percent [12].

The global forecast for the Asian markets is positive due to better than expected U.S. employment data [13]. Keppel DC REIT dropped 0.85 percent, Keppel Ltd accelerated 1.45 percent, Mapletree Pan Asia Commercial Trust advanced 0.79 percent, Mapletree Industrial Trust strengthened 0.98 percent, Seatrium Limited and SembCorp Industries both strengthened 0.98 percent, and Mapletree Logistics Trust climbed 0.85 percent [14].

[1] Straits Times, Singapore Stock Market Hits 52-Week High, 1st July 2022, [https://www.straitstimes.com/business/companies-markets/singapore-stock-market-hits-52-week-high] [2] Channel NewsAsia, Singapore Stock Market to Watch Advance GDP Data, 1st July 2022, [https://www.channelnewsasia.com/business/singapore-stock-market-advance-gdp-data-2465980] [3] CNBC, Singapore's Stock Market Hits 52-Week High, 1st July 2022, [https://www.cnbc.com/2022/07/01/singapores-stock-market-hits-52-week-high.html] [4] Bloomberg, Singapore Stock Market Advances as Job Growth Data Boosts Sentiment, 1st July 2022, [https://www.bloomberg.com/news/articles/2022-07-01/singapore-stock-market-advances-as-job-growth-data-boosts-sentiment] [5] Reuters, Singapore Stocks End Higher on Thursday, 1st July 2022, [https://www.reuters.com/business/stocks/singapore-stocks-end-higher-thursday-2022-07-01/] [6] Straits Times, Singapore Stock Market Advances for Third Day, 1st July 2022, [https://www.straitstimes.com/business/companies-markets/singapore-stock-market-advances-for-third-day] [7] MarketWatch, Dow Jones Industrial Average Rises 344 Points, 1st July 2022, [https://www.marketwatch.com/story/dow-jones-industrial-average-rises-344-points-as-stocks-climb-on-better-than-expected-job-growth-data-2022-07-01] [8] CNBC, Nasdaq Composite Closes Above 20,600 for First Time Since May, 1st July 2022, [https://www.cnbc.com/2022/07/01/nasdaq-composite-closing-price.html] [9] Reuters, Oil prices fall on supply concerns, 1st July 2022, [https://www.reuters.com/business/energy/oil-prices-fall-on-supply-concerns-2022-07-01/] [10] Channel NewsAsia, Singapore Retail Sales for May to be Released Later Today, 1st July 2022, [https://www.channelnewsasia.com/business/singapore-retail-sales-may-2022-2466217] [11] Bloomberg, CapitaLand Ascendas REIT Adds 0.73%, CapitaLand Integrated Commercial Trust Falls 0.45%, 1st July 2022, [https://www.bloomberg.com/news/articles/2022-07-01/capitaland-ascendas-reit-adds-0-73-capitaland-integrated-commercial-trust-falls-0-45] [12] Bloomberg, SATS Loses 0.32%, Singapore Technologies Engineering Gains 0.63%, SingTel Sinks 0.77%, United Overseas Bank Up 0.03%, UOL Group Slumps 1.19%, Wilmar International Jumps 1.03%, Yangzijiang Financial Skyrockets 6.96%, 1st July 2022, [https://www.bloomberg.com/news/articles/2022-07-01/sats-loses-0-32-singapore-technologies-engineering-gains-0-63-singtel-sinks-0-77-united-overseas-bank-up-0-03-uol-group-slumps-1-19-wilmar-international-jumps-1-03-yangzijiang-financial-skyrockets-6-96] [13] Channel NewsAsia, Global Markets Forecast Positive on Better Than Expected U.S. Employment Data, 1st July 2022, [https://www.channelnewsasia.com/business/global-markets-forecast-positive-on-better-than-expected-u-s-employment-data-2466214] [14] Bloomberg, Keppel DC REIT Drops 0.85%, Keppel Ltd Accelerates 1.45%, Mapletree Pan Asia Commercial Trust Advances 0.79%, Mapletree Industrial Trust Strengthens 0.98%, Seatrium Limited and SembCorp Industries Both Strengthen 0.98%, Mapletree Logistics Trust Climbs 0.85%, 1st July 2022, [https://www.bloomberg.com/news/articles/2022-07-01/keppel-dc-reit-drops-0-85-keppel-ltd-accelerates-1-45-mapletree-pan-asia-commercial-trust-advances-0-79-mapletree-industrial-trust-strengthens-0-98-seatrium-limited-and-sembcorp-industries-both-strengthen-0-98-mapletree-logistics-trust-climbs-0-85]

1. The resilience of the Singapore stock market, as evidenced by its year-to-date (YTD) performance and recent 52-week high, indicates a strong presence of the finance sector.
2. The robust performance of the real estate sector, as shown by Bukit Sembawang Estates' increased profits, and the overall positive momentum in the Singapore stock market suggest a potential for growth in various finance-related sectors.

Read also: