STI Technical Analysis - 01 April, 2015

Market review for STI

• Singapore share prices opened lower with the Straits Times Index (STI) down 0.75 points to 3,362.02, tracing losses in the US markets. 

• Singapore stocks hung on to their gains at noon after opening lowe because Singapore - listed companies recieved an increase of 7.1 per cent in the median of the average director's fee - S$60,000 per annum - in the financial year 2013/2014, compared to S$56,000 in the previous financial year.

Market Forecast for STI

• After one week STI was positive now we are expecting STI will be positive in next trading session.

Technical Indicators

• RSI is at 43 and CCI is at -134.

Important Factors for the Day

• The Monetary Authority of Singapore (MAS) said, last tuesday, it was reviewing and might delay the scheduled 1 June 2015 rollout of tighter macro-prudential measures to limit consumer debt.

• China's fiscal income rose just 3.2 per cent between January and February compared with the same period a year ago,well below an 8.6 per cent gain seen in the same period of 2014.

• Oil touched its lowest level since 2009, dragging Asian energy shares down amid increased projections for US production. The dollar weakened from its strongest in more than a decade to major peers ahead of this week's Federal Reserve meeting.

• Media group Singapore Press Holdings (SPH) has notified the Singapore Exchange of its move to buy a 20 per cent stake in a local start-up that offers quick and convenient access to curated data about companies and the people who run or own them.

• Singapore's anti-trust regulator blocked a takeover for the first time when it provisionally ruled last week that Malaysian IHH Healthcare Bhd's planned purchase of a local unit of India's Fortis Healthcare would lessen competition.

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