Singapore Stock Market has finished lower in three straight trading days, sliding almost 50 points or 1.6 percent along the way. The Straits Times Index remains just beneath the 3,140-point plateau, and the market may open in the red again on Wednesday.
The global forecast for the Asian markets is weak thanks to geopolitical concerns and a decline in the price of crude oil. The European and U.S. markets were down and the Asian markets figure to follow suit.
The STI finished barely lower on Tuesday as losses from the financials and industrials were offset by gains from the plantations.
Among the actives, Noble Group plummeted 6.11 percent, while SingTel dropped 1.07 percent, Yangzijiang Shipbuilding shed 0.44 percent, SembCorp Marine gave away 0.28 percent, Oversea-Chinese Banking Corporation lost 0.42 percent, United Overseas Bank dipped 0.23 percent and Wilmar International added 0.29 percent.
The lead from Wall Street is negative as stocks opened in the red on Tuesday and remained that way throughout the session.
The Dow shed 113.64 points or 0.6 percent to 20,523.28, while the NASDAQ fell 7.32 points or 0.1 percent to 5,849.47 and the S&P 500 dipped 6.82 points or 0.3 percent to 2,342.19.
Geopolitical concerns caused selling pressure after North Korean Vice-Foreign Minister Han Song-ryol told the BBC the communist nation plans to conduct weekly missile tests.
Concerns over the upcoming French presidential election also weighed on the markets, as did news that U.K. Prime Minister Theresa May has called for early elections.
In economic news, the Commerce Department saw a pullback in new residential construction in March, but a jump in building permits. Also, the Federal Reserve said industrial production increased in line with estimates in March.
Crude oil futures were lower Tuesday despite expectations that U.S. stockpiles dropped last week. May West Texas Intermediate crude fell 24 cents or 0.5 percent to $52.41 per barrel
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