STI Market Review - 05 Oct, 2015

STI Market Review

Singapore’s benchmark Straits Times Index opened today at 2,778.59 points, up by 1.21 per cent or 33.92 points and ended 58.10 points or 2.08% higher to 2851.25. STI came off from its intra-day peak of 2851.25 and low of 2822.28

Market Forecast

STI is expected to be bullish tomorrow. STI has the resistance at 2860. If it breaks this level it is expected to go up till 2875. STI has its support at 2820. The bullish trend is supported by weak U.S. job data which has eased out the fear of U.S. rate hike by FED.

STI Day Performance

Open	2826.07
High	2851.25
Low	2822.28
Close	2851.25
Change (in points)	58.1
% Change	2.08%
Volume	1131.90M
Rise	273
Fall	109
Unch	405

STI Levels

Support 1	2820
Support 2	2800
Support 3	2780
Resistance 1	2860
Resistance 2	2875
Resistance 3	2888

STI Counter Specific News

• Ascendas Reit has kicked off bookbuilding on its much-anticipated Singapore dollar perpetual non-call 5, with guidance offered in the 5 per cent area.
  
  
• OSIM International is down 1.23% at $1.605 after Taiwan's Food and Drug Administration reportedly found excessive levels of pesticide residues in OSIM's majority-owned TWG Tea's "Chamomile Green Tea" that was exported from India.
  
  
• Two senior US-based energy executives have left commodity trader Noble Group in the past week.

Global Factor & World Indices

• Hong Kong stocks bounced sharply on Wednesday from the previous session's two-year lows, wrapping up a tumultuous quarter in which the benchmark Hang Seng Index plunged more than 20 per cent. At market close, the Hang Seng was up 1.4 per cent, to 20,846.30, while the China Enterprises Index gained 1.9 per cent, to 9,405.50 points.
  
  
• China's stocks rose, paring the biggest quarterly loss since 2008, as the government struggled to halt a US$5 trillion rout and the world's second-largest economy showed signs of a sharper slowdown.
  
  
• European stocks advanced, rebounding from Tuesday's decline, as investors paused to assess value in what is heading for the worst quarter in four years. The Stoxx Europe 600 Index jumped 1.8 per cent to 345.43 at 8:07 am in London.

• Nikkei The pan-European FTSEurofirst 300 index rose 2.2 per cent. The euro zone's blue-chip Euro STOXX 50 index advanced 2.5 per cent.
  
  
• Hong Kong stocks closed 1.62 per cent up on Monday. The benchmark Hang Seng Index gained 348.41.79 points to end at 21,854.5.
  
  
• Tokyo's benchmark Nikkei 225 index closed higher on Monday on speculation the US Federal Reserve will keep interest rates near zero longer and an economic downturn will force Japanese policymakers to increase stimulus this month.
  
  
• Australian shares opened the week with a blazing start, jumping nearly 2 percent on Monday. S&P/ASX 200 index surged 98.48 points to finish near day's high at 5,510.5 - the highest close since Sept 18. The benchmark fell 1.8 per cent on Friday.
  
  
• Financial markets in China are closed on Monday for a public holiday. They will reopen on Thursday.
  
  
• Asian stocks rose early on Monday after prospects of a near-term interest rate hike by the Federal Reserve ebbed in the wake of Friday's weaker-than-expected US employment data.
  
  
• Taiwan stocks rose on Monday as foreign capitals started to return to domestic equities after four consecutive months of net outflow, according to Taiwan's financial regulator.
  
  
• The bond market shows traders see only an eight per cent chance the Federal Reserve will raise interest rates at its Oct 27-28 meeting following weaker-than-expected employment growth.
  
  
• Gold on Monday retained gains from its biggest daily jump in nearly nine months as weak US jobs data eased fears the Federal Reserve would hike rates this year.
  
  
• Oil held gains above US$45 a barrel after data showed a reduction in the number of rigs drilling for crude in the US, signaling output cuts in the world's biggest consumer.
  
  
• The dollar faced selling pressure against major currencies but strengthened against most of its Asia-Pacific peers Monday as concerns over emerging economies remained strong despite an expected delay in Washington's rate hike.