STI Technical Analysis - 05 Oct, 2015

STI Market Review

• Singapore benchmark Straits Times Index (STI) opened at 2,800.54 points, up 9.65 points or 0.35 per cent, after US stocks gained the previous night and ahead of the release of China's official purchasing managers' index (PMI) data, a manufacturing gauge and ended 11.51 points or 0.41% higher to 2772.36. 

• STI came off from its intra-day peak of 2799.80 and low of 2772.36 Top Losers Scrip Name CMP %change NOBLE 0.41-1.2 KEPPEL CORP6.72- 0.88 SEMBCORP MARINE 2.27-0.87 UOL 5.96-0.83 JARDINE C&C 26.82-0.74

• Singapore stocks posted gains midday on better-than-expected economic data out of China. China's official Purchasing Managers' Index climbed to 49.8 in September, compared with a median estimate of 49.7 in a Bloomberg poll, as well as an August reading of 49.7.

Market Forecast

• STI is expected to be positive tomorrow as China's official Purchasing Managers' Index has come better than expected. STI has the support level of 2778.

• STI has its resistance at 2828. If it breaks this level it might go up to 2860. Investor sentiments are still cautious over the early rate hike of U.S. by FED.

 

STI Counter Specific News

• Singtel's Thai associate Advanced Info Service Public Company Ltd has submitted for arbitration, on Sept 30, a claim for 70 billion baht (S$2.7 billion) from Thai state-owned telco TOT Public Company Ltd.

• QT Vascular has successfully defended itself against a patent infringement lawsuit filed by another medical company- AngioScore.

• ST Engineering CEO will retire next year.

• Hong Leong Asia expects to post a loss for its third quarter and nine months ended Sept 30.

Market Highlights

• Singapore benchmark Straits Times Index opened higher, after Wall Street gained on Friday, rising 36.23 points or 1.3 per cent to 2,829.38.

• Mandala Energy will invest US$179.6 million in a 35% stake in the Lemang Production Sharing Contract from Ramba Energy's subsidiary, PT Hexindo Gemilang Jaya.

• Sinocloud cancelled its proposed acquisition of up to 45.95% of China Satellite Mobile Communications Group.

• Global Yellow Pages signed a deal to buy a company that handles the retail master franchise and supply chain business for the Wendy's brand of ice-cream in Australia and New Zealand.

• Singapore Exchange (SGX) has launched a new index business,named "SGX Index Edge", which will offer comprehensive services aimed at addressing the rising demand for index-linked investment in Asia.

• Oil gains near US$45 as falling rigs signal US output cuts.

• Dollar slumped,while Asian index futures rise as jobs dim rate outlook.

• World Bank trims 2015 & 2016 East Asia forecasts, cites China and US rate risks.

Get 3 Days Free Trial Signals for FOREX | COMEX | EQUITY | CFD | FCPO