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Straits Times 3,120.11 -4.34 -0.14%
Hang Seng 26,474.15 -47.70 -0.18%
Dow Jones 26,787.36 -29.23 -0.11%
Shanghai Composite 2,993.65 -14.24 -0.47%
Investors Cautious Ahead Of US Jobs Data; Asian Markets Edged Up
Singapore Market Commentary | 07 October 2016
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Global equity markets went through volatile trading over the past fortnight with major Wall Street indices ending lower ahead of the United States non-farm payroll data, an important data point that could influence the timing of the Federal Reserve’s next rate hike. The Nasdaq Composite slipped 32.7 points, or 0.6 percent, finishing at 5,306.85 on Thursday, while the S&P500 shed 16.4 points, closing at 2,160.88.

The Dow Jones Industrial Average took the biggest hit with 17 out of 30 components recording declines on Thursday. The employment report comes ahead of the Federal Reserve’s next policy meeting on the first two days of November, a week before the United States presidential election on 8 November.

Asian indices, on the other hand, fared slightly better on the back of a further recovery in oil prices. Crude oil prices returned back above US$50 per barrel for the first time since late June after leaders of the Organization of the Petroleum Exporting Countries agreed to lower output for the first time in eight years.

The Hang Seng Index ended at 23,818.99 on Friday, adding 0.6 percent over the past two weeks. Though the Nikkei 225 staged a rally early this week edging close to 17,000, the index lost momentum on Friday, gaining 0.6 percent over the fortnight to finish at 16,860.09, as losses in the retail, construction and communication sectors led shares lower.

In the local scene, the Straits Times Index inched up 0.6 percent to end the week at 2,875.24 from its closing of 2,856.95 a fortnight ago. The benchmark index was lifted by blue chip gainers such as Keppel Corporation and Sembcorp Industries.

Keppel Corp  5.960 -0.01 -0.17%   
Business: [FY18 Turnover] Infrastructure (44.1%), offshore & marine (O&M) (31.4%), property (22.5%), investments (2%).

Insight: Apr-19, 1Q19 revenue rose 4.1% underpinned by high... Read More
Sembcorp Industries  2.090 -- --   
Business: Primarily engaged in the production and supply of utilities services. [FY18 Turnover] Utilities (55.9%), marine (41.8%), others/corp (2.2%), urban development (0.1%).

Insight: May-19, 1Q19 revenue fell 10.1% to $2.5b due to lo... Read More

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