Weekly STI Analysis

Weekly wrap of STI

• Straits Times Index (STI) opened at 2918.24 i.e. 52.77 or 1.77% lower and ended at 2955.94 i.e. 15.07 points or 0.51% lower to 3201.91 this week. STI came off from its weekly peak of 2999.08 and low of 2808.31.

• STI opened 1.33 per cent higher on Friday, with STI higher by 39.12 points and closed at 2955.94. Singapore market posted losses at midday.Singapore showed mixed moment this week, 2 days fall followed by 3 days of uptrend.

• STI recovered the fall of first 2 trading days of this week in the last 3 days. 

Open	2918.24
High	2999.08
Low	2808.31
Close	2955.94
Change (in points)	-52.77
% Change	-1.77%

STI Levels

Support 1	2795
Support 2	2688
Support 3	2593
Resistance 1	2928
Resistance 2	3056
Resistance 3	3214

Market Forecast for Week Ahead

• STI showed mixed sentiment this weak. STI almost recovered the downfall seen earlier this week and closed at 29955.94.

• It is expected to take sideways trend next week. It has it resistance at 3000, if it breaks this level it is expected to up till 3056. Its weekly support is at 2800.Concern over US interest rate to be increased is relaxed for the time being as FED has delyaed its decision towards early 2016. Market sentiment over China's rate cut remains positive.

Market Highlights

• Singapore shares opened 0.5 per cent higher, with the STI up 13.82 points to 2,969.76 following a mixed session for US markets before the weekend.

• Keppel is buying the owner of LeTourneau jackup rig designs from Cameron International Corp for US$100 million in cash.

• Raffles Medical Group is buying a chain of 10 clinics in China, Vietnam and Cambodia for US$24.5 million.

• Carlyle Group has ended its presence on the board of China Fishery Group.

• Singtel to double paternity leave and also supports call to raise re-employment age.

• China Everbright Water is seeking to acquire Dalian Dongda Water Company.

• Stock futures drop, while the Yen rallies after Fischer talks up inflation.

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STI Technical Analysis - 28 Aug, 2015

STI Market Review

• Singapore share prices opened higher with the STI up42.18 points or 1.47 per cent to 2915.18 and ended 72.43 points or 2.52% lower to 2945.43. STI came off from its intra-day peak of 2952.87 and low of 2909.78. 

• Singapore saw a techincal rebound after heavy selling pressure in last week. STI opened higher due to strong overnight performance in US equity markets and due to declartion of rate cut in China.

Market Forecast

• STI is to takeside ways trend with positive sentiments. It has broken the resistance of 2920. Its next resistance is at 2970, if breaks this level it is expected to go up to level of 3000, it has its support at 2904. 

• However, market sentiment still remains bearish as they did not find China's rate cut sufficient to control the global meltdown due to slowing growth of Chinese economy.

STI Day Performance

Open	2915.18
High	2952.87
Low	2909.78
Close	2945.43
Change (in points)	72.43
% Change	2.52%
Volume	1833.8M
Rise	406
Fall	69
Unch	318

STI Levels

Support 1	2904
Support 2	2845
Support 3	2801
Resistance 1	2970
Resistance 2	3000
Resistance 3	3038

Market Highlights

• Singapore Straits Times Index opened higher by 1.31% or 38.71 points at 2,984.14, buoyed by Wall Street's biggest two-day gain since the 2008 global financial crisis.

• OLAM International will take a strategic stake in the Singapore-listed commodity trader for S$1.53 billion.

• GuocoLeisure posted a 23 per cent rise in net profit, to US$47.9 million.

• Sim Lian  net profit for the full year ended June 30, 2015, increased 41 per cent from a year ago to S$240.4 million, on the back of a 67 per cent jump in revenue to S$1.2 billion.

• Noble Group rises 14% to lead gains on Singapore benchmark.

• Stats Chip asks SGX for suspension of trading in its shares.

• LionGold responded SGX on query on auditor's disclaimer of opinion.

• Oil markets have catched breath after biggest gains in past six years.

• Gold coasts along as stocks perk up.

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STI Technical Analysis - 27 Aug, 2015

STI Market Review

• Singapore share prices opened lower with the STI down 26.63 points or 0.92 per cent to 2859.66 and ended 13.29 points or 0.46% lower to 2873.00. STI came off from its intra-day peak of 2905.29 and low of 2847.17. 

• Singapore in early trade rebounded after gap down open moved in positive territory due to declartion of rate cut in China but it came down due to increase of selling pressure latter in the market and closed in red.

STI Forecast

STI is to takeside ways trend. It has its resistance at 2928, if it breaks this level it is expected to go up to level of 2947 and it has its support at 2800. However, market sentiment still remains bearish as they did not find China's rate cut sufficient to control the global meltdown due to slowing growth of Chinese economy.

STI Day Performance

Open	2859.66
High	2905.29
Low	2847.17
Close	2873
Change (in points)	-13.29
% Change	-0.46%
Volume	2306.40M
Rise	201
Fall	240
Unch	353

STI Levels

Support 1	2800
Support 2	2738
Support 3	2600
Resistance 1	2928
Resistance 2	2990
Resistance 3	3055

Market Highlights

• Singapore market opened 1.43 per cent or 41.20 points higher at 2,914.20, due to possible US Federal Reserve delay in interest rate hike.

• STI up more than 2%.

• Hupsteel & Union Steel swings down for Q4, full-year.

• IEV unit has filed writ against Indonesian company.

• GuocoLand Q4 profit down by 42%.

• Imperium Crown's net profit has gone up by S$11.98m for year ended June.

• Guocoland reported a 42 per cent break in net profit for the fourth quarter ended June 30, 2015, to S$107.31 million.

• Union Steel Holdings fourth-quarter results down with a net loss of S$8.4 million.

• Hupsteel had a net loss of S$9.3 million for the fourth quarter, due to an inventory write-down, a goodwill write-off and provision for doubtful debts.

• Asian stocks are up as Wall Street rally calms markets, & dollar surges.

• Dollar gains due to Wall St rebounds from 6-day rout.

• China interbank liquidity crunch has eased, but relief may be fleeting.

• Greece's Tsipras rules out at forming national unity government.

• Oil went down after mixed US petroleum supply report.

• Gold has started struggling as equities recover after China rate cut.

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STI Technical Analysis - 21 Aug, 2015

STI Market Review

• Singapore share prices opened lower on Thursday with the STI down 29.49 points or 0.97 per cent to 3,011.76, following selloffs in the United States and Japan.and ended 31.47 points or 1.03% lower to 3009.78. STI came off from its intra-day peak of 3027.35 and low of 3000.93.

• Singapore market traded in negative territory at midday, with other Asian bourses largely posting declines as well.

Market Forecast

STI is expected to take sideways trend. It has taken support at 3000 today. If it breaks this level it is expected to go further down till 2950. 

Invetsors sentiment are cautious over the further devaluation of the Yuan and on FED decision to increase interest rate next month.

STI Day Performance

Open	3023.47
High	3027.35
Low	3000.93
Close	3009.78
Change (in points)	-31.47
Change ( in %)	-1.03%
Volume	435.6M
Rise	42
Fall	282
Unch	469

STI Levels

Support 1	3000
Support 2	3950
Support 3	2900
Resistance 1	3040
Resistance 2	3090
Resistance 3	3147

Market Highlights

• Singapore share prices broke through the psychological 3,000-point support level - as many had feared it will - to 2,972.05  following declines in the United States and Asia.

• Noble gains 4.65% in morning trading.Noble Group said to discuss move to secured financing with banks.

• PwC issues disclaimer of opinion for LionGold's FY14/15 results.

• Perennial in JV to develop mixed-use project in Ghana.

• No audit qualification on cash and bank balances: China Sky

• Pacific Andes and China Fishery under investigation.

• OUE Commercial Reit establishes S$1.5b multi-currency debt programme.

• Asia stocks head for 17-month low after US shares join selloff.

• US oil pulled lower by global stocks; on track for eighth weekly decline.

• Asia gold appetite remains tepid, premiums droop.

• Dollar slips as Fed rate hike hopes fade.

• Spelling error on SG50 commemorative notes should never have happened: MAS managing director.

• Greece to hold early election on Sep 20, according to govt official.

STI Technical Analysis - 20 Aug, 2015

STI Market Review

• Singapore share prices opened higher with the Straits Times Index up 8.38 points to 3056.17 and ended 8.40 points or 0.28% lower to 33041.25. STI came off from its intra-day peak of 3063.24 and low of 3041.25. The Singapore market traded flat at midday on Wednesday. 

• Other Asian bourses largely saw declines, led by an extended rout in the mainland Chinese markets. STI slipped a further 0.3 per cent as a continued sell-off in commodities deepened fears of a slowdown in China's economy.

Market Forecast

STI is expected to take sideways trend. It has its nextsupport level is at 3020. If it breaks this level it is expected to go uptill 3000. However, STI is still under the impact of expectation of further devaluation of the Yuan.

STI Day Performance

Open	3056.17
High	3063.24
Low	3039.14
Close	3041.25
Change (in points)	-8.4
Change ( in %)	-0.28%
Volume	1380.5M
Rise	102
Fall	332
Unch	358

STI Day Performance

Support 1	3100
Support 2	3147
Support 3	3215
Resistance 1	3019
Resistance 2	2986
Resistance 3	2951

Market Highlights

• Singapore share prices opened lower with the Straits Times Index down 29.49 points or 0.97 per cent to 3,011.76, following selloffs in the United States and Japan.

• REX International is reducing capital investments and focusing on key discovery assets in Oman and Norway to preserve cash due to the downturn in oil prices.

• Aspial Corporation has decided to re-allocate S$25 million in bonds offered to the public to its placement to institutional and other investors.

• Ascott Residence Trust has completed the acquisition of Element New York Times Square West.

• Parkson Retail Asia posted a net loss of S$59.8 million for its fourth quarter ended June 30, 2015, compared to net profit of S$3 million a year ago.

• Thakral CorporatioN has established a programme with investment management group Aberdeen Asset Management Asia to buy Australian real estate projects.

• Rex to preserve cash, focus on Oman and Norway assets amid oil price downturn. Rex International to acquire 30% stake in North Sea area

• Jeweller Soo Kee Group's IPO 1.1 times subscribed.

• Phillip, CIMB, UOB impose curbs on Noble Group share trading.

• Vard 'not aware' of reason for price plunge; SGX issues 'trade with caution' notice.

• Singapore chosen as overseas HQ by Alibaba's cloud computing arm

• Dollar retreats after Fed minutes dim Sept rate hike prospects.

• Ringgit rout: Singaporeans keep calm, shop for Malaysia bargains.

• Oil hits 6.5-year low as US crude supplies rise.

• Gold marks time ahead of Fed minutes.

STI Technical Analysis - 19 Aug, 2015

STI Market Review

• Singapore share prices opened higher with the Straits Times Index up 10.43 points to 3,077.78, recovering from a drastic 46.9-point or 1.5 per cent drop to 3,067.35 on Monday.

• STI ended 17.70 points or 0.58% lower to 3049.65. STI came off from its intra-day peak of 3084.83 and low of 3049.65.

Market Forecast

STI is expected to take sideways trend. Its hasbroken the support level of 3050. It has its nextsupport level is at 3020. If it breaks this level it is expected to go uptill 3000. Investor sentiments are neagtive over the deeper devaluation of the Yuan despite the central bank's comments that it sees no reason for a further slide.

STI Day Performance

Open	3076.86
High	3084.83
Low	3049.65
Close	3049.65
Change (in points)	-17.07
Change ( in %)	-0.58%
Volume	1513.70M
Rise	101
Fall	327
Unch	364

STI Levels

Support 1	3100
Support 2	3147
Support 3	3215
Resistance 1	3019
Resistance 2	2986
Resistance 3	2951

Market Highlights

• Singapore share prices opened higher with the Straits Times Index up 5.8 points or 0.19 per cent to 3,055.45, despite selloffs in Asian stocks for a fourth day as investors await clues from the US Federal Reserve on the timing of a US interest-rate increase.

• PACIFIC Andes Resources Development and China Fishery Group requested a halt to their trading with immediate effect pending an announcement.

• CEFC International share price has shot up by more than ten-fold since mid-July on its potential joint ventures are still ongoing. CEFC says joint venture discussions still ongoing.

• Aspial Corporation is issuing retail bonds for the first time to raise up to S$75 million.

• Noble Group shorts advance to record as company defends finances.

• Tianjin blast to strain Chinese insurers: Fitch.

• Singtel tops Governance and Transparency Index, with SGX a close second.

• Oil prices higher ahead of US inventory data.

• Citi lowers gold price forecasts for 2015, 2016.

• Dollar steady, pound up after inflation climbs.

• Greek government slightly eases capital controls.