Just looking at how Singapore's market is shaping up and there's a pretty interesting resistance symbol forming around that 5,000-point level. The STI bounced back on Friday after three straight days of getting beaten down, but it's still sitting right at the edge of that key threshold. Gained about 31 points or 0.62 percent to close at 4,995, which tells you how tight things are getting.

The action was pretty mixed across the board. You had financials and property stocks doing some heavy lifting, but the trust sector kept dragging things down. Some names were wild - Yangzijiang Shipbuilding absolutely ripped it with a 10.71 percent jump, UOL Group surged over 5.6 percent, and Seatrium went up 5.26 percent. On the flip side, Venture Corporation got hammered down 7.51 percent and CapitaLand Integrated Commercial Trust tanked 2 percent.

What's got everyone watching this resistance symbol at 5,000 is what's happening globally. Wall Street got smacked on Friday with the Dow dropping over 1 percent, NASDAQ down 0.92 percent, and the S&P 500 losing 0.43 percent. The whole week was rough for U.S. markets too. Part of it was those producer price numbers coming in hotter than expected - 0.5 percent instead of the forecast 0.3 percent - which sparked some stagflation concerns. Then you've got the whole AI disruption story playing out with companies like Block cutting their workforce nearly in half.

Oil prices are another thing entirely right now. Crude spiked 2.6 percent on Friday with all the geopolitical tension brewing, and that's likely to keep adding pressure on markets heading into next week. So for Singapore, that 5,000 resistance symbol looks like it's going to get tested again pretty soon. Looks like the Asian markets are setting up for another rough open on Monday given how everything wrapped up.