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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