STI Market Review - 22 Oct, 2015

STI Market Review 

Singapore market opened unchanged, with the Straits Times Index gaining 0.61 point to 3,026.31 due to a subdued finish on Wall Street that followed a mixed bag of corporate earnings in the United States and ended 12.40 points or 0.41% higher to 3038.1. STI came off from its intra-day peak of 3046.40 and low of 3025.87.  

STI Day Performance

Open	3026.4
High	3046.4
Low	3025.87
Close	3038.1
Change (in points)	12.4
% Change	0.41%
Volume	1193.8M
Rise	194
Fall	156
Unch	433

STI Levels

Support 1	3010
Support 2	2980
Support 3	2960
Resistance 1	3050
Resistance 2	3075
Resistance 3	3100

Market Forecast

• STI is expected to consolidate in the range of 3010 - 3050. It has its resistance at 3050 and support at 3010. If it breaks it resistance of 3050, it is expected to go upto 3075. 

• Investor sentiment are cautious over the slowdown of China’s economy also Indonesia, which is a major export-import partner of Singapore, is struggling to drive economic growth after foreign investment stagnated last quarter.

STI Counter Specific News

• Mapletree Commercial Trust on Wednesday posted a 2.5 per cent increase in distribution per unit (DPU) to 2.02 Singapore cents for the second quarter ended September 30, 2015.
  
  
• Cheaper utility bills and lower finance costs gave a boost to third-quarter earnings for mall owner CapitaLand Mall Trust.
  
  
• The Stratech Group has clinched a contract to upgrade its iFerret intelligent airfield/runway surveillance and foreign object & debris (FOD) detection system at Singapore Changi Airport.