Singapore market trends Friday: Brexit reports bolster sterling, while Black Friday news awaited

Singapore street scene in Tanjong Pagar neighborhood; taken 31 August 2018.Singapore’s Tanjong Pagar neighborhood.

Singapore’s shares may waffle on Friday amid holidays in the U.S. and Japan and as traders await news on post-holiday retail sales.

The holiday Thursday in the U.S. is wrapping up and few Black Friday retail sales reports — or the now ubiquitous shopping-brawl videos — have emerged so far. That may keep traders in a wait-and-see mode amid concerns the American consumer may be feeling tapped out.

Reports of progress on a Brexit deal, including a draft text, helped to steady the British pound. But the proposed deal still faces harsh criticism.

Indexes

South Korea’s Kospi was up 0.21 percent at 8:07 A.M. SGT. Japan’s market was closed for Labour Thanksgiving Day.

Singapore’s Straits Times Index was up 0.09 percent at 3041.38 at Thursday’s close; November futures for the index were at 3038 on Thursday, while December and January futures were at 3036 and 3038 respectively.

Hong Kong’s Hang Seng Index ended up 0.19 percent at 26,019.41 on Thursday, while China’s CSI 300 was down 0.37 percent at 3214.427.

Malaysia’s KLCI ended Thursday nearly flat at 1695.62, while Indonesia’s IDX composite was up 0.72 percent at 5990.81.

U.S. markets were closed on Thursday for the Thanksgiving holiday and will only be open for a half day on Friday.

The Dow Jones Industrial Average was nearly flat at 24,464.69 at Wednesday’s close, the Nasdaq Composite rose 0.92 percent to 6972.251 and the S&P 500 was up 0.30 percent at 2649.93. Futures for the three indexes were down in early trade.

Currencies

The U.S. dollar index, which measures the buck against a currency basket, was at 96.50 at 7:05 A.M. SGT, after dropping as low as 96.33 during Thursday’s session, according to ICE futures data.

The 10-year U.S. Treasury note yield was at 3.064 percent at the close of Wednesday trade in the U.S.

The euro/dollar was at 1.1402 at 8:06 A.M. SGT after trading in a 1.1380 to 1.1434 range on Thursday, according to DZHI data.

The British pound/dollar at 1.2875 at 8:06 A.M. SGT after trading in a 1.2766 to 1.2928 range on Thursday, according to DZHI data.

The dollar/yen was at 112.987 at 8:06 A.M. SGT after trading in a 112.85 to 113.132 range on Thursday, according to DZHI data.

The dollar/yuan ended Thursday at 6.9319 after trading in a 6.9213 to 6.9371 range during the session, according to DZHI data.

The dollar/Singapore dollar was at 1.3731 at 8:07 A.M. SGT after trading in a 1.3717 to 1.3742 range on Thursday, according to DZHI data.

The dollar/Malaysian ringgit was at 4.1940 at Thursday’s close after trading in a 4.1900 to 4.1950 range during the session, according to DZHI data.

The dollar/Indonesian rupiah was at 14,575 at Thursday’s close after trading in a 14,565 to 14,615 range during the session, according to DZHI data.

Oil

Nymex WTI crude oil futures for January were down 1.04 percent at US$54.06 a barrel at 7:35 A.M. SGT, while ICE Brent crude oil futures for January were down 1.39 percent at US$62.60 a barrel at 2:29 A.M. SGT, according to Bloomberg data.

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