STI Technical Analysis - 23 March, 2015

Market Review for STI

• Shares prices opened higher  with the Straits Times Index (STI) up 4.21 points to 3,416.65 , following gains in US and European markets on Friday. 

• Local market is up, some of the other Asian markets are trading higher.

• Asian markets mostly advanced  following rallies on Wall Street and in Europe, while the dollar continued to struggle after the Federal Reserve dampened expectations for an early interest rate hike.

STI Day Performance

• Open - 3413.65

• High - 3430.32

• Low - 3409.42

• Close - 3410.13

• Change (Points) - -2.31

• % Change - 0.07%

• Volume - 920.5M

• Rise - 190

• Fall - 173

• Unch - 417

Market forecast for STI

We may expect STI will move in the range of 3374 to 3456.

Technical Indicators

 RSI is at 54 and CCI is at 55.

Important Factors For Today

• Singapore issuers are turning to private debt placements to seek tighter pricing and new investors amid an uncertain rates outlook.

• SINGAPORE'S headline inflation remained in negative territory at -0.3 per cent in February, although this was a touch higher than January's reading of -0.4 per cent.

• Consumer prices in Singapore fell in February for the fourth consecutive month, potentially setting the stage for the central bank to ease monetary policy further at its biannual meeting in April.

• Chief Justice Sundaresh Menon paid a tribute to the late Lee Kuan Yew, Singapore's first prime minister who died early Monday morning at the age of 91, calling him a lifelong champion of the rule of law.

• Noble Group says it will commence legal action against Arnaud Vagner, a resident in Hong Kong, and Enlighten Ace, a Seychelles firm, for "conspiracy to injure" the company. Noble Group says it will commence legal action against Arnaud Vagner, a resident in Hong Kong, and Enlighten Ace, a Seychelles firm, for "conspiracy to injure" the company.

• M1 Limited (M1) and the Maritime and Port Authority of Singapore (MPA)  they would partner in adopting fourth generation mobile telecommunications technology (4G) broadband for vessels operating within Singapore's port waters.

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