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.