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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