FX.co ★ Little Movement Expected For Singapore Stock Market

The Singapore stock market has been declining over the past four days, dropping more than 90 points or 3 percent. The Straits Times Index is currently sitting just under the 3,145-point mark, projecting a stable opening on Wednesday.

It's anticipated that international indicators for Asian markets will show little fluctuation. While some investors may utilize this opportunity to buy at lower prices, others are wary of the implications of uncertain interest rates. This has led to a mixed response in the European and U.S. markets, with Asian markets expected to follow suit.

Tuesday saw the Straits Times Index slipping significantly, spurred by losses from financial, property, and industrial sectors. The index decreased by 38.85 points or 1.22 percent, closing out at 3,144.76.

Active stocks fluctuated with CapitaLand Integrated Commercial Trust and City Developments facing a 1.58 percent decline various others experiencing different levels of losses and gains. In contrast, companies like Emperador & Yangzijiang Shipbuilding observed an increase in their stocks.

U.S. stock market indicators provide little guidance due to mixed openings on Tuesday and subsequent minimal changes. A moderate increase in the Dow was offset by a decrease in the NASDAQ and S&P 500.

Market direction continues to be a point of contention as investors balance purchasing stocks at lower prices with concerns over interest rate projections. These concerns were stoked by the Federal Reserve's report showing a continued increase in U.S. industrial production in March. Fed Chair Jerome Powell hinted at the likelihood of prolonged high rates due to lack of progress towards achieving their inflation goal.

The oil market also showed uncertainty, with West Texas Intermediate crude for May delivery experiencing a slight decrease. This follows U.S. Treasury Secretary Janet Yellen's announcement of prospective sanctions on Iran.

Finally, data for Singapore's non-oil domestic exports (NODX) for March is expected to be released later this morning. February's data recorded a decline of 4.8 percent over the month and 0.1 percent over the year, leading to a trade surplus of SGD5.968 billion.