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.
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.
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