STI Technical Analysis - 30 Sept, 2015

STI Market Review

• Singapore's benchmark Straits Times Index opened on Tuesday morning at 2,754.35 points, down 1.35 per cent or 37.57 points as overnight US losses dragged down morning trading in Asiaand ended 4.0 points or 0.14% lower to 2787.90. 

• STI came off from its intra-day peak of 22790.60 and low of 2740.36. Top Losers Scrip Name CMP %change NOBLE 0.4-10.11 WILMAR INTL 2.52-3.08 HPH TRUST USD 0.555-2.63 SATS3.98- 1.73 STARHUB 3.44-1.71 

• Singapore stocks were down midday as commodity-related companies led a sell-off over concerns of weaker raw materials prices amid China's economic slowdown.

Market Forecast

• STI is expected to consolidate. STI has broken the support level of 2757. STI has its resistance at 2800. If it breaks this level it might go up to 2830. 

• Investor sentiments are cautious over the early rate hike of U.S. By FED and slowdown of china's economy.

Market Highlights

• Singapore benchmark Straits Times Index (STI) opened flat at 2,786.63 points, down 1.31 points or 0.05 per cent, after a Tuesday afternoon rebound.

• Lifebrandz posted a S$7.63 million loss for full-year 2015.

• Cacola Furniture will resume trading only after announcing the termination of a reverse takeover that would have seen company go into agri-food business.

• Singapore's Petrochemical Plant is in receivership.

• S$ bonds are resilient amid equity alongwith currency selloffs.

• Noble Group shares fell by 15% on global commodity woes.

• Singapore property auction market recorded S$27.6m of sales in Q3.

• Asian share slide halts but weaker commodity outlook weighs.

• Asian futures rose amid late US rally while yen holds advance.

• Switzerland has topped the World Economic Forum's competitiveness ranking for a 7th consecutive year, with Singapore and the US second and third.

• Oil prices rallies as equities stabilise.

• Palm oil prices seen up 40 per cent by mid-2016.

• IMF has warned of market breakdown potential due to low rates.

• Dollar has drifted lower as market awaits Yellen rate comments.

• Sing dollar has fallen through S$1.43 against US dollar, to fresh six-year low.

Singapore Market Highlights - 29 Sept, 2015

Market Highlights

• Singapore benchmark Straits Times Index (STI) opened at 2,754.35 points, down 1.35 per cent or 37.57 points.

• Asian stocks fell to the lowest since 2012 on China concerns & Wall St drop.

• Asian futures are signalling more losses as markets roiled also bonds climb.

• Ezra Holdings disclosed that DNB Bank ASA, has bought a 7.04 per cent stake in it for S$24.84 million.

• Croesus Retail Trust will buy Torius Property, a suburban retail mall in Fukuoka, Japan, comprising 36 buildings, for about eight billion yen.

• Commodity giant Glencore, fell 29 per cent in London. 

• Noble Group shares fell by 15% on global commodity woes.

• Huationg has won new civil engineering contracts worth S$81.3m.

• Olam is planning to double African coffee estates.

• Singapore's completed condo prices have dropped by 0.6% in August.

• Ng Kok Siong of Singbridge will take over as CEO of Guangzhou Knowledge City

• Upward pressure on Singapore wages will be there in 2015 due to skills shortages for highly-skilled candidates and government policy to encourage the hiring of locals for middle-income jobs.

• There are mixed messages from Fed officials as they go public in force. However, Fed's Official Dudley said US is on track for 2015 interest-rate rise.

• Commodity traders faced higher costs under new European rules.

• China's bond market is 'overheating' after stocks.

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Market Highlights - 28 Sept, 2015

Market Highlights

• Singapore benchmark Straits Times Index (STI) opened lower at 2,828.07 points, down 4.57 points or 0.16 per cent, ahead of data on China industrial profits.

• Asian shares held back by insipid Wall St while dollar consolidates.

• Frasers Hospitality, is in talks with funds to buy assets in Europe.

• Sunright has reported a increase in net profit to S$3.1 million for its full year ended July 31, 2015.

• CMC Infocomm Ltd won S$4 million worth of contracts from Singapore telcos.

• Vard Holdings has secured new contracts worth over US$100 million for the designing and construction of two offshore sub-sea construction vessels for Dubai-based Topaz Energy and Marine.

• Oil prices fell down on slowing global economic growth outlook.

• China's August industrial profits have fallen 8.8% year on year.

• Greek's finance minister is confident of returning to growth.

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STI Weekly Wrap - 25 Sept, 2015

STI Weekly Wrap

• Straits Times Index (STI) opened at 2855.04 ie., 24.55 or 0.85% lower and ended at 2832.64 ie., 46.95 points or 1.63% lower to 2832.64 this week. STI came off from its weekly peak of 2904.98 and low of 2816.76.

• Singapore's August industrial production data due later today will likely hint at a risk of a technical recession, says DBS. 

• A technical recession occurs when there are two consecutive quarters of decline in gross domestic product. According to prediction a 6.8% on-year decline in industrial output in August.

Strait Times Weekly Wrap

Open	2855.04
High	2904.98
Low	2816.76
Close	2832.64
Change (in points)	-46.95
% Change	-1.63%

Weekly Technical View

Support 1	2800
Support 2	2755
Support 3	2695
Resistance 1	2915
Resistance 2	2950
Resistance 3	2990

Market Forecast

STI remained in negative sentiment this weak. It is expected to consolidate next week. It has it weekly support at 2800. STI may take reboud after taking support at 2800. 

Concern over US interest rate has increased after FED officials and Janet Yellen made a statement supporting rate hike by the end of this year. Market sentiment over slowdown of China’s economy is also negative.

STI Counter Specific News

• IPS Securex Holdings has placed out 8.9 million shares to "certain institutional investors" at 71 cents per share to raise $6.32 million.
  
  
• Ezra Holdings says Capt. Adarash Kumar Chranji Lal Amarnath has stepped down as group chief operating officer and executive director of the company effective Friday. His resignation is in compliance with the Code of Corporate Governance 2012 of having independent directors making up at least half of the board.
  
  
• Emas Offshore named Ezra ex-COO as CEO.
  
  
• NOL couldn't explain high volume, except maybe market talk of Temasek selling stake.
  
  
• Olam Intl is eyeing at US$2.72bn opportunity for acquisitions from commodity crisis.

STI Technical Analysis - 25 Sept, 2015

STI Market Review

• Singapore share prices opened lower on Wednesday with the Straits Times Index (STI) down 11.23 points or 0.39 per cent to 2,857.24 and ended 22.73 points or 0.79% lower to 2845.74. STI came off from its intra-day peak of 2860.10 and low of 2827.19. 

• Top Losers Scrip Name CMP %change NOBLE 0.45-3.23 WILMAR INTL 2.64-2.58 SEMBCORP IND 3.53-2.22 GENTING SING0.73-2.01 SGX7.27-1.89 Singapore stocks traded weaker at noon after another weak reading of manufacturing data from China that is closely watched for what it says about the health of the world's second largest economy.

Market Forecast

• STI is expected to moves up in next trading session as it has formed inverted hammer and also buying pressure was higher in later half of the trading session today. It has broken its support level of 2930 today. 

• It has its next at support level at 2850, if it breaks this level it may down till 2830.If has its resistance at 2860. Investor sentiments are cautious over the slowdown of china's economy and increased expectation by FED to increase interest rate by the end of this year.

Market Highlights

• Singapore shares opened 0.7 per cent lower, with the Straits Times Index down 19.5 points to 2,826.24 after US Federal Reserve chairwoman Janet Yellen said in overnight remarks that she was personally supportive of a rate hike this year.

• Asian stocks rallied after Yellen points to 2015 rate increase.

• Fed still on track for US rate hike this year.

• Weak Japanese data weighed on oil markets.

• TMC failed to get reserve price at auction of Peninsula Plaza lots.

• Emas Offshore named Ezra ex-COO as CEO.

• China New Town suspended vice-chairman Shi Jian over sister company's probe.

• EGM held by controlling shareholder of KLW.

• UBS &DBS are said among buyers in US$6.5b China Post deal.

• Bank of Singapore seeing small Asia wealth managers under pressure.

• US dollar gained as Yellen eyes rate hike by year's end.

STI Technical Analysis - 23 Sept, 2015

STI Market Review

• Singapore share prices opened higher on Tuesday with the Straits Times Index (STI) up 11.13 points or 0.39 per cent to 2,890.11 and ended 12.58 points or 0.44% higher to 2869.69. 

• STI came off from its intra-day peak of 2890.11 and low of 2862.72. Top LosersScrip NameCMP%changeHPH TRUST USD0.565-3.42SEMBCORP MARINE2.33-2.92 KEPPEL CORP 6.97-2.52 YZJ SHIPBLDG SGD1.165-2.1ST ENGINEERING2.92-2.01

• Singapore equities inched up at noon, with no clear direction to trading and little in the way of local new cues. STI rose 0.42% to 2,894.40. Market breadth was positive. However, later in the day STI was dragged in red through heavy selling in the market.

Market Forecast

• STI is expected to take side ways trend. It has support level at 2850, if it breaks this level it may down till 2830. It is trading within the range of 2830 - 2905. It has its resistance at 2905. 

• If has its resistance at 2900. Investor sentiments are cautious as FED has shown some expectation to increase profit by the end of this year.

Market Highlights

• Singapore share prices opened lower with the Straits Times Index (STI) down 11.23 points or 0.39 per cent to 2,857.24

• Asian shares slipped on growth anxiety focus now shifts to China PMI.

• Asian futures point to more stock losses before China factory PMI

• Rowsley has decided not to wait for the Iskandar residential market to recover.

• YuuZoo Corporation is appointing James Sundram as chief executive officer, from Oct 1.

• SGX could face toughest questions yet at an annual shareholders' meeting as pressure mounts to find new sources of revenue.

• DBS will introduce cashless options through mobile app to F&B outlets in Singapore.

• NOL couldn't explain high volume, except maybe market talk of Temasek selling stake

• Industrial Reit in Singapore will remain resilient in the face of the current economic slowdown, underpinned by its "robust" financial profiles.

• Oil moves up on falling US inventories.

• De Beers has pushed gift-giving to halt China's diamond slowdown.

• Gold retains losses as firmer dollar.

• Dollar rises as Fed seen hiking rate this year.

• Impact of China slowdown is bigger than expected :IMF

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STI Technical Analysis - 22 Sept, 2015

STI Market Review

• Singapore share prices opened higher on Tuesday with the Straits Times Index (STI) up 11.13 points or 0.39 per cent to 2,890.11 and ended 12.58 points or 0.44% higher to 2869.69. STI came off from its intra-day peak of 2890.11 and low of 2862.72. 

• Top Losers Scrip Name CMP %change HPH TRUST USD 0.565-3.42 SEMB CORP MARINE 2.33- 2.92 KEPPEL CORP 6.97-2.52YZJ SHIPBLDG SGD1.165-2.1ST ENGINEERING 2.92-2.01 

• Singapore equities inched up at noon, with no clear direction to trading and little in the way of local new cues. STI rose 0.42% to 2,894.40. Market breadth was positive. However, later in the day STI was dragged in red through heavy selling in the market.

Market Forecast

STI is expected to take side ways trend. It has support level at 2850, if it breaks this level it may down till 2830. It is trading within the range of 2830 - 2905. It has its resistance at 2905. If has its resistance at 2900. Investor sentiments are cautious as FED has shown some expectation to increase profit by the end of this year.

STI Counter Specific News

• A subsidiary of Magnus Energy is forking out A$1 million (S$1 million) in cash to subscribe for 8 million shares in a new Australian oil and gas company.

• Neptune Orient Lines (NOL) on Tuesday said that besides reports that surfaced in July saying Singapore state investment firm Temasek Holdings has put it up for sale, it was not aware of anything else which might explain the trading in its shares.

• DBS has ambitions to introduce cashless options through a first-of-its-kind mobile application to hawker centers and quick-serve restaurants in Singapore, a senior bank executive said on Tuesday.

STI Technical Analysis - 22 Sept, 2015

STI Market Review

• Singapore share prices opened lower on Monday with the Straits Times Index (STI) down 21.85 points or 0.76 percent to 2,857.74 and ended 2.7 points or 0.09% higher to 2882.27. STI came off from its intra-day peak of 2886.39 and low of 2854.67. 

• Top Losers Scrip Name CMP %change NOBLE 0.47-4.08 OLAM INTL1.995-2.21 SGX 7.55-2.2 JARDINE C&C 28.79-1.71 GOLDEN AGRI-RES 0.305-1.61 Singapore market finished a marginal 0.1 per cent higher on Monday, with the Straits Times Index advancing 2.68 points to 2,882.27 on its first day without the two major Jardine group stocks in nearly two decades.

Market Forecast

STI is expected to take side ways trend. It is trading within the range of 2830 - 2905. It has its resistance at 2905. If it breaks this level it is expected to go up to level of 2920, it has its support at 2843.

Global Factors & World Indices

• Singapore market finished a marginal 0.1 per cent higher on Monday, with the Straits Times Index advancing 2.68 points to 2,882.27 on its first day without the two major Jardine group stocks in nearly two decades.

• Malaysian shares ended lower on Monday with the Kuala Lumpur Composite Index slipping 29.98 points to close at 1,639.47.Some 1.6 billion lots, valued at RM1.87 billion were traded. Gainers numbered 274 while losers numbered 526.

• Hong Kong stocks sagged on Monday, weighed down by broad weakness in markets amid lingering worries about global economic growth. Hang Seng index fell 0.8 per cent, to 21,756.93, while the China Enterprises Index lost 1.3 per cent to 9,899.37 points.

• Asian shares and emerging currencies fell on Monday after the US Federal Reserve's decision to keep interest rates at record lows raised fresh concerns about growth globally, particularly in China.

• Australian shares fell 2.6 per cent on Monday, tracking negative cues from Wall Street after the US Federal Reserve's decision to keep interest rates on hold last week sparked uncertainty about global growth.

• Greece's current account surplus widened sharply in July from the same month a year earlier, mainly due to a 1.8 billion euro (S$2.87 billion) inflow of bond gains from the European Central Bank which boosted the income balance, the Bank of Greece said on Monday.

• US Federal Reserve's decision not to hike interest rates last week sent forex traders running to safer assets Monday, with higher-risk emerging-market currencies taking a hit.

• US oil prices narrowed their discount to international benchmark Brent as a supply glut in North America abated even as it grew elsewhere..

• Gold held close to its highest level in nearly three weeks on Monday, boosted by safe-haven demand after the Federal Reserve's move last week to leave US interest rates unchanged weighed on global equities.

STI Weekly Technical Review

Weekly Wrap STI

• Straits Times Index (STI) opened at 2887.41 and ended -8.44 points or 0.29% lower to 2879.59 this week. STI came off from its weekly peak of 2919.77 and low of 2837.59. 

• STI was up 0.1% at 2,898.27 shortly after the open, showing the muted reaction of investors to the US Federal Reserve's overnight decision to leave its benchmark interest rate unchanged. 

• Singapore's industrial production for August is forecasted to fall by 5% on- year mainly as demand weakens due to economic slowdown in China. The pace of downward revisions for corporate earnings in Singapore and Asean has slowed this month. Consensus downward revisions have slowed to 0.2% for MSCI Singapore companies, from 1.5% average downward revisions for earnings in August.

STI Weekly Wrap

Open	2887.41
High	2919.77
Low	2837.59
Close	2879.59
Change (in points)	-8.44
% Change	-0.29%

Weekly Technical View On STI

Support 1	2800
Support 2	2760
Support 3	2700
Resistance 1	2930
Resistance 2	3000
Resistance 3	3055

Market Forecast for the Week

STI was in consolidation this week. As FED did not increase the US ineterest rate, market is expected to be positive next week. It is expected to move in the range of 2800 - 2930. However, if it breaks the resistance level of 2930, it is expected to go up till 3000.

Market Highlights

• Singapore share prices opened lower with the Straits Times Index (STI) down 21.85 points or 0.76 per cent to 2,857.74.

• Olam Intl is eyeing at US$2.72bn opportunity for acquisitions from commodity crisis.

• Sembcorp has agreeed to divest SembSita Pacific for A$485m.

• Ascendas Reit is snapping up a portfolio of 26 logistics properties at one go for A$1.01 billion (S$1.02 billion).

• Oil prices edged up as US drilling declines.

• Police arrested 27-year-old man over Singapore Grand Prix track invasion.

Singapore Market Highlights - 18 Sept, 2015

Market Highlights

• Singapore shares dropped 3.54 points or 0.12 per cent to 2,892.27 in the opening minutes of trading.

• After the Federal Reserve decided to leave interest rates unchanged on Thursday (Sept 17), a majority of Wall Street's top banks now expect the US central bank to begin hiking rates in December.

• The dollar decreases in Asian trading on Friday after skidding to three-week lows against the euro and a basket of currencies after the Federal Reserve held interest rates steady.

• World oil prices dipped Thursday as traders weighed a Federal Reserve decision to keep its benchmark interest rate at zero, citing worries about global growth.

• Gold rose to a two-week high on Thursday after the Federal Reserve said it held US interest rates steady.

• Ascendas Real Estate Investment Trust (A Reit) is looking to make its maiden acquisition of 26 logistics properties in Australia for A$1.013 billion from GIC and Frasers Property Australia.

• Silverlake Axis is buying SunGard Ambit (Singapore), or SAS, for US$12 million to expand its suite of software and services as well as deepen and broaden its customer relationships and geographical presence.

STI Technical Analysis - 17 Sept, 2015

STI Market Review

• Singapore shares opened higher on Wednesday. At 9.01 am, the benchmark Straits Times Index was up 26.68 points, or 0.94 per cent, at 2,868.62 and ended 26.80 points or 0.94% higher to 2868.74. 

• STI came off from its intra- day peak of 2886.85 and low of 2855.78. Top Losers Scrip Name CMP %change NOBLE0.45-2.17 GOLDEN AGRI-RES0.305 1.61 STARHUB 3.54-0.56 DBS 17.43-0.34 SIA ENGINEERING 3.64-0.27 Singapore stocks traded lhigher at noon on Wednesday. STI gains 0.88% to 2,867.00 at midday.

Market Forecast

STI is expected to take side ways trend. It has broken its resistance level of 2870, its support level is at 2825. If it breaks this level it is expected to go down to level of 2800, it has its resistance at 2890. Investor sentiment are cautious over the pending FED decision to increase the interest rate.

Market Highlights

• Singapore stocks opened 13.97 points or 0.49 per cent higher at 2,882.71.

• Singapore’s non-oil domestic exports (NODX) continued to be in negative territory in the third quarter.

• Crude prices rallied Wednesday after a US petroleum supply report showed lower inventories and oil production.

• Gold prices rallied to their highest level in a week as a weaker dollar and declining inflation bolstered hopes the Fed would stand pat on interest rates.

• A Federal Reserve decision to boost interest rates would give a lift to large US banks.

• The dollar pulled back against the euro Wednesday on the eve of a Federal Reserve interest rate decision that could see the first hike in more than 9 years.

• Frasers Property Australia - formerly known as Australand - has secured over A$275 million worth of new development projects over the last 12 months.

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STI Technical - 16 Sept, 2015

Market Review

Singapore shares opened higher on Wednesday. At 9.01am, the benchmark Straits Times Index was up 26.68 points, or 0.94 per cent, at 2,868.62 and ended 26.80 points or 0.94% higher to 2868.74. STI came off from its intra-day peak of 2886.85 and low of 2855.78. 

Open  -  2862.06

High   -  2886.85

Low    -  2855.78

Close  -   2868.74

Change(Points) +26.80

% Change  -    +0.94%

Volume      -    1299.50 M

Rise           -     248

Fall            -    120

Unch         -    421

Market Forecast

STI is expected to take side ways trend. It has broken its resistance level of 2870, its support level is at 2825. If it breaks this level it is expected to go down to level of 2800, it has its resistance at 2890. Investor sentiment are cautious over the pending FED decision to increase the interest rate.

STI Counters

• Capitaland is up 1.1% at $2.80 after announcing a joint venture in Vietnam to build a residential project worth US$150 million ($210 million).
  
  
• Singapore Airlines is up 2.5% at $10.25 after the flag carrier reports a 2.5 percentage points increase in its passenger load factor in August.
  
  
• Technics Oil & Gas opened 10% higher at 66 cents after announcing a contract win worth $70.5 million to build a liftboat for a Malaysian customer whose name it did not reveal.
  
  
• China Ocean Shipping (Group) Company (Cosco) and China Shipping Group, two of the country's largest shipping firms, said shares in their listed companies would remain suspended pending a complex matter under research that may involve asset restructuring.

STI Technical Analysis - 16 Sept, 2015

STI Market Review

• Singapore shares opened marginally lower on Tuesday with the benchmark STI falling 16.75 points or 0.58 percent to 2854.72 and ended 29.53 points or 1.03% lower to 2837.14. 

• STI came off from its intra-day peak of 2857.14 and low of 2837359. Top LosersScrip Name CMP%change NOBLE 0.46-3.16JSH USD 26.54-3.1 CITYDEV 7.98- 2.44 JMH USD 46.21-2.2SGX7.45-1.84 Singapore stocks traded lower at noon on Tuesday. 

• Apart from a smattering of small-cap news, there was little to drive trading. Weakness in China and Hong Kong that followed an overnight slump on Wall Street as well as a drop in the Dow futures contract that indicated a soft Tuesday for the US market all added up to weigh on sentiment in STI.

Market Forecast

• STI is expected to take side ways trend. It has broken its support level of 2860, its next support level is at 2800. If it breaks this level it is expected to go down to level of 2830, it has its resistance at 2870. 

• Investor sentiment remains cautious over the pending FED decision to increase the interest rate and concern over the chances of decreasing domestic consumtion due to degraded air quality in Singapore.

Market Highlights

• Singapore shares opened higher with, the benchmark Straits Times Index was up 26.68 points, or 0.94 per cent, at 2,868.62.

• Asian shares up, US bond yields jump before Fed.

• SGX has formed three independent committees to advise the market regulator on listing, disciplinary and appeal matters.

• Hyflux alongwith its partner Mitsubishi Heavy Industries (MHI) are chosen by the Singapore government to build a new waste-to-energy (WTE) plant at Tuas South Avenue 3.

• CapitaLand has announced its seventh residential project in Vietnam.

• Rotary Engineering is fighting a lawsuit in the High Court of Singapore.

• China's move to have a more market-determined yuan should be welcomed.

• World Bank economists have warned Fed hikes may be bumpy for emerging markets.

• GE2015 has assured Singapore's future beyond SG50.

• China has taken aim at automated trading in commodities futures.

• Oil prices went up after dip in US crude production.

• Brent oil contango is widest in three months as surplus has piled up.

• Singapore property curbs not likely to be eased anytime soon as per analysts.

STI Technical Analysis - 15 Sept, 2015

STI Market Review

• Singapore shares opened marginally lower on Monday with the benchmark STI falling 2.18 points or 0.09 per cent to 2,885.85 and ended 16.56 points or 0.57% lower to 2871.47. 

• STI came off from its intraday peak of 2889.10 and low of 2871.20. Top Losers Scrip Name CMP %change NOBLE 0.475-6.86 JMH USD 47.25-2.98 SEMB CORP MARINE 2.33-2.92 ST ENGINEERING 2.93-2.33 CITYDEV8.18-2.04 STI drifted to a 16.56 points loss at 2,871.47 ahead of the US Federal Open Markets Committee meeting this week at which an interest rate hike could be announced.

Market Forecast

• STI is expected to take side ways trend. It has its support level is at 2860. If it breaks this level it is expected to go down to level of 2830, it has its resistance at 2900. 

• Investor sentiment remains negative over the increased chances of FED increasing the interest rate and concerns over the China's economy eclipsed weekend announcements from Bejing that reforms of bloated state-owned industries would accelerate.

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Market Highlights

• Singapore shares continued its downward trend, after opening 17.57 points down, or 0.61 per cent, at 2,853.9.

• Asian shares tread water as Fed meeting looms.

• Olam International fell 3 cents to S$1.955 with some 222.1 million shares changing hands.

• ARA raised US$325 million for private real estate funds division.

• Dollar snaped six-day skid against euro ahead of Fed.

• Oil extends loss as Opec cuts demand growth forecast.

• Gold bulls can't shake Fed woes as US$2.6b wiped from ETPs.

• Most Singaporeans favour individual responsibility for retirement income as per the survey.

STI Weekly Technical Anlaysis

Weekly Wrap STI

• Straits Times Index (STI) opened at 2842.28 i.e., 21.53 or 0.75 % lower and ended 24.19 points or 0.84% lower to 2888.03 this week. STI came off from its weekly peak of 2930.81 and low of 2829.20.

• Singapore stocks retreated at noon on Thursday on China's weaker inflation report.Singapore shares opened lower on Thursday with the STI slipping 40.6 points or over one per cent to 2,887.6 and closed at 2863.81. Singapore market posted losses at midday.Market breadth remained negative. STI came off from its daily peak of 2893.12 and low of 2893.12.

• Standard & Poor's Ratings Services (S&P) has lowered its 2015-2017 GDP growth forecast for Singapore as the Republic has taken a "major hit" from slow export growth.

Open	2842.28
High	2930.81
Low	2829.2
Close	2888.03
Change (in points)	24.19
% Change	0.84%

Market Forecast

• STI is expected to take side trend. The resistance level is at 2930, if it crosses this level it can move upto 3000. STI has its support at 2800.

• US rate hike fears by FED, sparked by a report showing a record rise in job openings in July and falling crude oil prices can impact STI market negatively.

STI Levels

Support 1	2800
Support 2	2755
Support 3	2698
Resistance 1	2930
Resistance 2	3000
Resistance 3	3050

Market Highlights

• Singapore shares opened marginally lower with the benchmark Straits Times Index falling 2.18 points or 0.09 per cent to 2,885.85.

• China interbank market has opened lending facilities to qualified members.

• Oil Search has rejected Woodside's US$8b takeover bid as too low.

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