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.