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.
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