STI Technical Analysis - 10 Dec, 2015

Market Review for STI

Singapore's share prices opened lower on Wednesday with the Straits Times Index down 5.24 points to 2,870.64 and ended lower to 14.84 points or 0.52 percent at 2861.19. STI came off from its intra-day peak of 2874.20 and low of 2860.02

Market Forecast

• STI is expected to be negative in its next trading session.It has its support at 2858 and resistance at 2890.The investors are weighed down by sluggish global markets and cautious ahead of an expected US rate hike next week.

• Also the negative sentiment has gained weight over the Chinese factories data which showed factories were plagued by persistent producer price deflation.

STI Market Analysis - 08 Dec, 2015

STI Market Review

Singapore Market opened lower on Tuesday with the Straits Times Index (STI) down 17.16 points to 2,883.76 and ended lower to 24.89 points or .86 percent at 2876.03.STI came off from its intra-day peak of 2886.37 and low of 2865.64.Straits Times Index declined 0.83% in midday and the Market breadth was negative. Excluding warrants, decliners out number gainers 234 to 70 at mid-day.

Market Forecast

STI is expected to consolidate with negative sentiment in its next trading session. It has its support at 2855 and resistance at 2890. Investors are cautious over sluggish global markets, as slumping oil prices dented their confidence ahead of a likely US rate hike.The investors are also weighed down by weak China trade data, which has added worries.

STI Weekly Analysis - 04 Dec

Weekly Wrap of STI

• The STI opened at 2871.05 on Monday and closed higher to 2879.05 on Friday. This week was very much affected with the global news STRAIT TIMES WEEKLY WRAP Starting with the International Monetary Fund (IMF) on Monday and ending with the European Central Bank (ECB) on Thursday. 

• Straits Times Index managed three consecutive days of rises between Tuesday 2879.05 and Thursday which helped it record a 20-point or 0.7 per cent gain for the week at 2,879.05.

• The 30 constituents of the benchmark Straits Times Index (STI) will remain unchanged following the conclusion of the latest quarterly review. Most markets ended lower in reaction to comments from the US Federal Reserve, similar to that of the US the day before.

• ECB eased its monetary policy by lowering its deposit rate by 0.1%. Surprisingly, the U.S. dollar sold off and the Euro rallied which should not be the case. But could this be temporary as Federal Reserve Chairperson Yellen remained steadfast in her stand to raise . 

• An important U.S. jobs report is due out and as usual, the world will be watching again what Yellen would do to U.S. interest rates.

Market Forecast for Week Ahead

STI is expected to be negative next week. STI has taken support near 2855 and expected to break this support next week as market is expecting a fall in oil prices after the OPEC meeting. It has its resistance at 2900. If it breaks this resistance than it might go up to 2930.

STI Technical Analysis - 03 Dec, 2015

Market Review

Singapore's benchmark Straits Times Index opened lower on Thursday at 2,858.96, down 24.68 points or 0.86 per cent, after an oil price slide ahead of an OPEC meeting and ended higher to 0.3 points or 0.01 percent at 2883.9. STI came off from its intra-day peak of 2890.03 and low of 2857.499.

Market Forecast

STI is expected to consolidate within the range of 2870-2900. It has its support at 2855 and resistance at 2905. If it breaks this resistance it might go up to 2925. Investor's sentiment are cautious over the hawkish comments from Federal Reserve Chair Janet Yellen reinforced the case for an interest rate hike later this month.

 

STI Counter Specific News

• SMRT Corporation will collaborate with the Agency for Science, Technology and Research to develop technologies to improve Singapore's transport network reliability and performance.The five-year agreement will bring together the rail operations and engineering capabilities of SMRT, the strengths in sensor networks and data analytics of I2R.

• Ascendas Hospitality Trust (AHTrust) will pay A$120 million ($124 million) for the serviced apartments component of a mixed-use development at 224-252 La Trobe Street, Melbourne, Australia.The property is freehold and comprises 252 units of apartments, on levels 10 to 32 of a 92-storey development.

• Q&M Dental Group (Singapore) plans to restructure its stake in Qinhuangdao Aidite High Technical Ceramic Co, ahead of a possible listing of the China-based manufacturing subsidiary.As part of the restructuring, Aidite will reduce its equity capital to RMB23.97 million ($5.3 million) from RM47 million.

STI Technical Analysis - 02 Dec, 2015

Market Review

• Singapore's benchmark Straits Times Index was at 2,895.17 points at 9.07am on Wednesday, up 24.91 points or 0.87 per cent and ended lower to 13.4 points or 0.47 percent at 2883.6. STI came off from its intra-day peak of 2902.80 and low of 2880.86. 

• Singapore equities nudged up at noon and amid mixed trading in other Asian markets as investors pondered over the US Federal Reserve's interest-rate outlook after a surprise contraction in U.S manufacturing.

Market Forecast

STI is expected to consolidate in next trading session.It moved just above its support level at 2880. It has its next support at 2854 and resistance at 2948. Investors are likely to remain cautious amid the US Federal Reserve's interest-rate outlook after a surprise contraction in U.S manufacturing output, missing the median estimate of 50.5.

STI Counter Specific News

• Frasers Property and joint venture partner Sekisui House launched DUO to the Australian market last week, putting on sale were one-bedroom suites from A$625,000, one bedroom apartments from A$700,000, two-bedroom apartments from A$1,180,000 and three-bedroom dual-key apartments from A$1,930,000.

• Marine logistics firm Marco Polo Marine and rig builder Sembcorp Marine fired salvoes at each other in an ongoing contractual dispute over a US$214.3 million ($303 million) rig building contract. The contract, which Marco Polo first terminated in November, was in turn terminated by Sembcorp's PPL Shipyard after it said Marco Polo failed to pay a progress payment plus interest.

• Intraco has won another $3.2 million by an arbitration tribunal in its long-drawn feud with privately-held Timor Global over a 2007 joint venture agreement.The trading company had already won a sum of $6.6 million out of its total claim of $9.8 million against Timor Global, although that was before interests and costs.

STI Technical Analysis - 30, Nov, 2015

STI Market Review

SINGAPORE'S benchmark Straits Times Index (STI) opened 6.89 points or 0.24 per cent at 2871.05 ahead of a week of news flows in the month, and ended higher to 8.8 points or 0.31 percent at 2867.9.STI came off from its intra-day peak of 2877.53 and low of 2856.61. 

Market Forecast

STI is expected to consolidate with negative sentiment in its next trading session as it has broken its support level at 2877. It has its next support at 2852 and resistance at 2944. Investors are cautious over increasing worries for demand of steelmaking as the contracts on the Singapore Exchange tumbled more than 3 per cent and the rate hike by Fed in mid december is also a major concern for investors and over decision to be made by ECB on their monetary policy.

 

STI Counter Specific News

• OKP Holdings, the infrastructure and civil engineering company, have won a $94.6 million contract by the Land Transport Authority.Wholly-owned subsidiary, Or Kim Peow Contractors (Private) Limited will construct a viaduct from the Tampines Expressway to the Pan Island Expressway (Westbound) and Upper Changi Road East.
• Advance Technology Holding, is seeking a voluntary delisting of Sinotel Technologies, after recently acquiring a 80.5% stake in the company.Advance is making a cash offer of 12.8 cents for all the shares it does not own which is 50.6% higher than the last traded price of 8.5 cents.
• Alliance Mineral Assets company has signed a distribution contract with Mitsubishi Corp. to supply Tantalite concentrate.The material is widely used in the production of capacitors in the electronics industry.The mining company said that although the latest supply contract is the first initial sample, it expects further orders.The stock is up 3.2% at $0.128, outperforming the Straits Times Index's 0.4% rise.

STI Technical Analysis - 26 Nov, 2015

STI Market Review

• Singapore shares opened marginally lower on Wednesday as the Straits Times Index (STI) dipped 0.48 point, or 0.02 per cent, to 2,923.01. and ended 31.91 points or 1.09% lower to 2851.25. 

• STI came off from its intra-day peak of 2928.42 and low of 2891.58. Top LosersScrip NameCMP%changeSIA ENGINEERING3.58-2.98 GENTING SING0.775-2.52KEPPEL CORP6.7-2.05GLOBAL LOGISTIC2.09-1.88HPH TRUST USD0.53-1.85 

• Share prices in the local bourse finished on a low note with the key Straits Times Index falling 32 points or 1.09 per cent to 2,891.58.Jitters over geopolitical tension after Turkey shot down a Russian fighter jet kept investors on the sidelines across the regional markets.

Market Forecast

STI is expected to consolidate within the range of 2880 - 2840. STI has the resistance at 2840 and has its support at 2880.If it breaks this level it is
expected to go down till 2850. Market sentiment are cautious over the Fed decision in next month over the hike of U.S. Interest rate and due to geopoilitical tension between Turkey and Russia.

Market Highlights

• Singapore share prices opened a marginal 0.3% higher, with the STI up 8.65 points to 2,900.23, following the Wall Street gains.

• KLW has withdrawn its action filed against Michael Chan Ewe Teik for the repayment of S$7 million.

• PSL Holdings has acquired an approximately 49% stake in Indonesia-based marine logistics player PT Momentum Indonesia Investama.

• KS Energy acquired the 20% stake in Ocean Offshore Engineering for S$2.34 million. 

• Cordlife is currently in discussions with various parties on opportunities relating to acquisitions, divestment and joint ventures.

• Ministry of Trade and Industry in Singapore has announced to extend the block exemption order for liner shipping agreements for another 5-yrs until Dec 31, 2020.

• Businesses in Singapore feels that the government initiatives have become increasingly business friendly.

• Oil prices ended higher after a US inventory report indicated increased petroleum supply, but a separate report showed fewer drilling rigs in service.

• Indonesia : new Opec member which surprisingly likes lower oil prices.

• Gold gained on a softer dollar and heightened tensions after Turkey shot down a Russian warplane, but the rally was limited due to expectations of a US rate hike next month. 

• Euro fell against most major currencies on expectations of further European Central Bank monetary stimulus.

Phillip Futures Energy Daily Outlook - Pick for the Day!!

Phillip Futures Energy Daily Outlook - Bullish momentum formed from increased geopolitical tensions; we expect economic data to further support this momentum.

US Q3 GDP turned out strong, supporting markets after the weak Preliminary Manufacturing PMI; US Durable Goods Orders will be released at 9.30pm (Singapore Time): Out of the 3 major US economic data releasing this week, we have a tie between the bulls and the bears.

US crude oil and natural gas inventories scheduled for release tonight at 11.30pm and tomorrow morning at 1am respectively (Singapore Time): Both US crude oil and natural gas inventories will be released later.

Crude Oil

Prices continued its increase after geopolitical tensions heightened. If tensions continue to increase, we may see more increase. Apart from geopolitical tensions, we await the economic data aforementioned. For the US economic data, we would use the US Dollar Index as an indicator as to how oil prices are affected. 

We would think that as long as US Dollar Index does not climb above 100, the bullish momentum should continue. In terms of inventories, we believe that it should decrease for the first time in weeks, and thus should also support higher prices. 

This would mean that oil prices should have more upside today, especially if the events turn out as expected. We see a strong resistance for WTI and Brent Jan’16 at $43.49 and $46.49 and this should break in the most bullish scenario.

Natural Gas

Prices are slowly trending upwards again after the big drop from last week. If US natural gas inventories drops this week, we should be seeing prices maintain above current support of $2.228 for today. This level could be tested in anticipation of US natural gas inventory release, however, should not break especially if inventories turned out lower.

Source: Philip Futures Pte Ltd.

Stock Pick for the Day!!!

Top pick for the day - Cocoa

• Cocoa failed to make a new high but on the weekly basis, it appears to be forming an ascending triangle pattern, which is a continuation pattern.

• The recent failure is not a sign of reversal but only a minor pullback after a strong breakout above the ST resistance trend line last week.

• This breakout could signal the end of the sideways movement and the next leg up could be underway.

• A move above 3395 would confirm that the bull is coming back. The upside targets are at 3533 and 3625, which are the 138% FR and 136% FR levels.

A drop below 3187 would negate our bullish view.

Watchout on both 3395 and 3187 key levels.

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STI Technical Analysis - 20 Nov, 2015

STI Market Review

• SINGAPORE shares opened higher on Thursday.The benchmark Straits Times Index rose 26.91 points or 0.93 percent to 2,912.99. following Wall Street's gain on expectations the Federal Reserve would be confident enough about the US economy to raise rates in December. 

• STI closed 33.8 points or 1.17% higher and came off from its intra-day peak of 2932.78 and low of 2906.86.

Market Forecast

STI is expected to consolidate in next trading session. Investors are still waiting for positive trend , but market is not showing positive trend. If STI break 2940 then it may take positive side.

 

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STI Technical Analysis - 19 Nov, 2015

STI Market Review

The benchmark Straits Times Index STI opened 8.78 points or 0.3 per cent lower at 2,908on Wednesday. STI came off from its intra-day peak of 2909.45 and low of 2884.03. STI closed lower to 30 points or 1% at 2890.68

Market Forecast

Asian stock markets are expecting to fall amid fears that the terror attacks in Paris would hurt Europe's economic recovery. STI has taken a support of 2885 we are expecting it will go more down if it break support. Technical indicator also not supporting the STI market.

 

Market Highlights

• Singapore shares opened higher following the Wall Street's gain on expectations that the Fed would be confident enough about the US economy to raise rates in December. 

• SIIC Environment Holdings, recorded more than 100.6 million shares, making it the most active counter yesterday.

• Cosmosteel posted a 49.3% drop in net profit to S$1 million for the quarter ended Sept 30, 2015.

• Sembcorp Marine won a floating storage offloading vessel construction contract from Modec.

• Kepple T&T appointed Tan Eng Hwa as CFO & Desmond Gay Kah Meng as CEO.

• Air Liquide SA's US$10.3 billion takeover of rival Airgas Inc has given the European company a leading share of the US market in industrial gases amid forecasts of further construction and manufacturing growth.

• Oil prices higher as traders weighed a small gain in US inventories and a Federal Reserve report that supported expectations of a December interest rate hike. 

• USD low against the euro after the minutes of the Federal Reserve's October policy meeting reinforced expectations of an interest rate hike next month.

• Due to the recent global developments that aim to clamp down on Base Erosion and Profit Shifting practices of some multinationals, and also increasing emphasis on tax transparency, there is need for Singapore to re-position itself for value creation to fuel its economy's growth. 

• Fed officials continue to flag December as a likely time for interest rates to rise after 7 yrs near zero & expressing confidence they will be able to pull off a rate hike smoothly despite fears of an abrupt market reaction.

• SGX partnered EBS BrokerTec, ICAP's electronic FX and fixed income business, to launch SGX-listed FX block futures on EBS BrokerTec's FX central limit order book- EBS Market, a primary venue for e-traded currencies.

Top Hot Stock Today - Russell 2000 index

Russell 2000 index (RTY) has risen 6.39% since the 1,079 low in September and we could see more upside from here.

In RTY case, prices are remaining and holding up well above the ST resistance-turned-support trend line as well as the support band.

Besides that, with prices still trading in the ST uptrend channel (red), a bounce is likely.

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STI Technical Analysis - 26 Oct, 2015

STI Market Review

Singapore benchmark Straits Times Index opened 27.51 points higher or 0.9 per cent at 3,095.97, extending its gains from Friday following China's lowering of lending rate and big banks' reserve requirement ratio ended 14.61 points or 0.48% higher to 3083.07. STI came off from its intra-day peak of 3104.72 and low of 3081.91.

Market Forecast

• STI is expected to be positive in next trading session. It has broken its resistance of 3075 today. It has its next resistance at 3115 and support at 3075. 

• If it breaks it resistance of 3115, it is expected to go upto 3150. Investor sentiment are positive after China eased monetary policy on Friday, cutting both interest rates and lenders' reserve requirements.

STI Day Performance

Open	3092.31
High	3104.72
Low	3082.06
Close	3083.07
Change (in points)	14.61
% Change	0.48%
Volume	1722.8M
Rise	207
Fall	181
Unch	399

STI Levels

Support 1	3075
Support 2	3045
Support 3	3010
Resistance 1	3115
Resistance 2	3150
Resistance 3	3180

STI Market Review - 22 Oct, 2015

STI Market Review 

Singapore market opened unchanged, with the Straits Times Index gaining 0.61 point to 3,026.31 due to a subdued finish on Wall Street that followed a mixed bag of corporate earnings in the United States and ended 12.40 points or 0.41% higher to 3038.1. STI came off from its intra-day peak of 3046.40 and low of 3025.87.  

STI Day Performance

Open	3026.4
High	3046.4
Low	3025.87
Close	3038.1
Change (in points)	12.4
% Change	0.41%
Volume	1193.8M
Rise	194
Fall	156
Unch	433

STI Levels

Support 1	3010
Support 2	2980
Support 3	2960
Resistance 1	3050
Resistance 2	3075
Resistance 3	3100

Market Forecast

• STI is expected to consolidate in the range of 3010 - 3050. It has its resistance at 3050 and support at 3010. If it breaks it resistance of 3050, it is expected to go upto 3075. 

• Investor sentiment are cautious over the slowdown of China’s economy also Indonesia, which is a major export-import partner of Singapore, is struggling to drive economic growth after foreign investment stagnated last quarter.

STI Counter Specific News

• Mapletree Commercial Trust on Wednesday posted a 2.5 per cent increase in distribution per unit (DPU) to 2.02 Singapore cents for the second quarter ended September 30, 2015.
  
  
• Cheaper utility bills and lower finance costs gave a boost to third-quarter earnings for mall owner CapitaLand Mall Trust.
  
  
• The Stratech Group has clinched a contract to upgrade its iFerret intelligent airfield/runway surveillance and foreign object & debris (FOD) detection system at Singapore Changi Airport.

STI Technical Analysis - 13 Oct, 2015

STI Market Review

• Singapore shares opened 0.29 per cent or 8.82 points lower at 2,989.68 on Monday. This is despite Asian stocks edging higher elsewhere in the region, consolidating recent rises on late gains in Wall Street on Friday and a rebound in the commodities complex.

• STI ended 33.61 points or 1.12% higher to 23032.11. STI came off from its intra-day peak of 3035.67 and low of 2979.63.

• Trading in blue chips has contributed almost three quarters of daily volume over the past fortnight and so it was again the case when STI recent revival continued with a 33.61-point rise to 3,032.11.

Market Forecast

STI is expected to be bearish in its next trading session. STI has its resistance at 3040. If it breaks this level, it is expected to go up till 3065. It has its support level at 2965.

Technically STI is showing a positive moment. However, investor sentiment are cautious over the GDP data of Singapore due on 13th October'15.

Market Highlights

• Singapore benchmark Straits Times Index (STI) fell 0.55 per cent or 16.63 points to 3,015.48 while investors awaited China's trade data & Japan reopens weaker.

• SPH Reit Q4 DPU of 1.39 Singapore cents and it sees 100% occupancy at both malls.

• Singapore's Tanstarr Group has signed jet fuel term with Gazprom unit

• SIA will deploy first A350 to Amsterdam in April '16.

• Noble climbed to its one-month high as supply cuts spur commodity surge.

• SingPost is growing E-commerce with US & European services.

• SGX is these days reviewing companies' compliance with CG Code.

• China's stock investors confidence has rose sharply in September.

• Singapore central banks are seen easing the monetary policies after Jan shock.

• Haze choking Asia might get even worse if El Nino delays seasonal rain.

• Dollar sliped as Fed officials kept bearish while yuan kept higher.

• Oil prices fell down on supply worries & profit-taking. Opec is seeing more demand for its crude in 2016 as cheap oil hits rivals.

• Gold has climbed to the highest in seven weeks as Fed rate view weighed.

STI Weekly Analysis 12 - 16 Oct, 2015

Weekly Wrap STI

• Straits Times Index (STI) opened 29.92 or 1.07% up this weak at 2826.07 and ended 205.35 points or 6.85% higher to 2988.50 this week. STI came off from its weekly peak of 3011.63 and low of 2822.28.

• After gaining 169 points or about 6 per cent between Monday and Wednesday, ST on Thursday fell 14.78 points to 2,947.03 as it spent the day tracking the Dow futures, the latter dropping as much as 130 points at one stage. 

• Reason of downfall on thusday was due to fall in Wall Street was most likely because the US earnings season that started on Thursday iwas expected to be disappointing. However, STI gained the fall on Friday by rising by 51.5 points and ending the weak at 2998.5. STI breaks its resistance of 3000 this weak.

• Singapore Exchange's (SGX) total securities market turnover value grew 7% year-on-year (y-o-y) to $22.5 billion, despite fewer trading days in Sept 2015 as compared to the same month last year.

Market Forecast for Week Ahead

• STI is expected to be positive next weak. STI has broken its crucial resistance of 3000 and recovered the downfall of last month in last weak. 

• The positive moment in the market can be seen on the back of the minutes of the US Federal Reserve's latest meeting showed no urgency to raise interest rates. 

• STI has its next resistance at 3015, if it breaks this level next weak it is expected to go up till 3055. It has its weekly

Market Highlights

• Singapore shares opened 0.29 per cent or 8.82 points lower at 2,989.68 despite Asian stocks edging higher elsewhere in the region, consolidating recent rises on late gains in Wall Street on Friday and a rebound in the commodities complex.

• Asian stocks climbed after biggest weekly rally since Dec 2011.

• SGX is reviewing companies' compliance with CG Code.

• China Sky's non-executive chairman has resigned.

• Tee International's Q1 profit went up 23.6%.

• SIA plane had collapsed at Changi Airport gate after nose gear retracted during landing gear check.

• OKP unit has won S$12.7m JTC contract.

• Oil edged up on lower US rig count, & weaker dollar.

• IMF urgeed Japan to proceed with second sales tax hike.

• Fed should not raise interest rates just yet- as said by China Finance Minister

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STI Technical Analysis - 09 Oct, 2015

Market Review STI

• Singapore benchmark Straits Times Index (STI) opened stronger on Thursday, with the Straits Times Index (STI) up 16.47 points or 0.56 per cent to 2,978.28 following gains on Wall Street but went down during the day and ended 14.80 points or 0.50% lower to 2942.21. STI came off from its intra-day peak of 2983.62 and low of 2942.21.

• Singapore stocks inched lower at noon, amid mixed trading in other Asian markets after three days of solid gains, as the euphoria that followed a readjustment of expectations regarding interest rate rises in the US wears off.

Market Forecast STI

• STI is expected to consolidate in next trading sessions. STI has its resistance at 3000. If it breaks this level, it is expected to go up till 3030. 

• It has its support level at 2930 Technically STI is expected to be bullish as total foreign reserves has increased by 5.4% as compared to last year.

Market Highlights

• Singapore shares opened stronger with the Straits Times Index up 22.94 points or 0.78 per cent at 2,969.97 after the minutes of the US Federal Reserve's latest meeting showed no urgency to raise interest rates.

• Noble Group has hired former oil trader Wael Amer to build up its operations in the Middle East and North and East Africa. 

• Singtel is investing S$400 million in a Tier 3-Plus data centre in Jurong to meet the growing demand for co-location and cloud services in Singapore. 

• DBS, OCBC, UOB will be expected to disclose policies framing their risk assessment of environmental, social and governance factors for lending, under new guidelines set by the Association of Banks in Singapore.

• Oxley mulled Catalist listing of restructured Malaysian property development business.

• ICBC Singapore cleared Asia's 1st RMB transaction on newly launched CIPS.

• Yuuzoo secured the rights to organize and, co-host upcoming gaming event in China.

• Ascott triples units have been added in SEA.

• IMF said amid 'new mediocre' no room for mistakes by central banks.

• US dollar fell considerably after Fed minutes show inflation worries.

• Oil prices bounced back in Asia.

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