The Singapore stock market on Thursday saw an end to the modest two-day winning streak in which it had gained nearly 60 points or 2.6 percent along the way. The Straits Times Index is holding on to support at 2,380 points, although investors are hopeful that the market will bounce higher in Friday’s trade – perhaps testing the 2,400-point plateau.

The global forecast for the Asian markets is cautiously optimistic, thanks to some better than expected economic news out of the United States. Commodities will continue to find support on the rising cost of crude oil – although the importers may see some pressure as a result. The European markets ended modestly higher, as did the U.S. markets – and the Asian bourses are predicted to do the same.

The STI finished modestly lower on Thursday, shrugging off deeper declines at the opening of trade. The financials were the biggest losers, while the commodities fell on profit taking after strong gains a day earlier, and industrials also finished lower.

For the day, the index eased 9.41 points or 0.4 percent to close at 2,381.81 after trading between 2,360.61 and 2,395.63 on volume of 2.24 billion shares. There were 341 decliners and 165 gainers.