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.