The Singapore stock market has climbed in back-to-back sessions, adding almost 15 points or 0.4 percent across that stretch.
The Straits Times Index now sits just beneath the 3,315-point plateau, though momentum looks likely to run out of steam heading into the next session.
The global forecast for Asian markets is mixed, with continued profit taking among technology stocks expected to cap any meaningful upside.
European markets finished higher while U.S. bourses ended mostly lower, and Asian markets are expected to follow the lead of Wall Street.
The STI closed slightly higher in the most recent session, supported by gains from financial shares alongside mixed performances from property stocks and industrial issues.
The index rose 8.12 points or 0.25 percent to finish at the daily high of 3,314.14, having traded as low as 3,295.80 earlier in the session.
Among the notable movers, Seatrium Limited plummeted 2.63 percent, while Hongkong Land plunged 1.53 percent and Singapore Technologies Engineering surged 1.49 percent.
Oversea-Chinese Banking Corporation rallied 1.06 percent, SATS climbed 1.05 percent, and Emperador spiked 1.16 percent, while Genting Singapore tanked 1.14 percent.
CapitaLand Integrated Commercial Trust rose 0.62 percent, City Developments gained 0.75 percent, and Mapletree Pan Asia Commercial Trust advanced 0.82 percent during the session.
Comfort DelGro slumped 0.73 percent and SembCorp Industries tumbled 0.99 percent, while Yangzijiang Financial, Frasers Centrepoint Trust, Mapletree Industrial Trust, Frasers Logistics & Commercial Trust and Thai Beverage were all unchanged.
On Wall Street, the major averages opened mixed and finished the same way, with only the Dow Jones Industrial Average ending in positive territory.
The Dow rallied 260.88 points or 0.67 percent to finish at 39,411.21, while the NASDAQ (COMP) tumbled 192.54 points or 1.09 percent to close at 17,496.82.
The S&P 500 (SPX) fell 16.75 points or 0.31 percent to end at 5,447.87, dragged lower by selling pressure concentrated in the technology sector.
Nvidia Corporation (NVDA), Dell Technologies (DELL), and Qualcomm (QCOM) all plummeted on profit taking, contributing heavily to the technology-led weakness across the broader market.
Traders were also positioning ahead of the Commerce Department’s report on personal income and spending, which includes inflation readings said to be preferred by the Federal Reserve.
Oil prices gained ground on optimism about demand and concerns over potential supply disruptions stemming from ongoing tensions in the Middle East.
West Texas Intermediate Crude oil futures for August rose $0.90 or 1.1 percent to settle at $81.63 a barrel, adding a modest tailwind to energy-linked market sentiment.
