STI Technical Analysis - 13 Oct, 2015

STI Market Review

• Singapore shares opened 0.29 per cent or 8.82 points lower at 2,989.68 on Monday. This is despite Asian stocks edging higher elsewhere in the region, consolidating recent rises on late gains in Wall Street on Friday and a rebound in the commodities complex.

• STI ended 33.61 points or 1.12% higher to 23032.11. STI came off from its intra-day peak of 3035.67 and low of 2979.63.

• Trading in blue chips has contributed almost three quarters of daily volume over the past fortnight and so it was again the case when STI recent revival continued with a 33.61-point rise to 3,032.11.

Market Forecast

STI is expected to be bearish in its next trading session. STI has its resistance at 3040. If it breaks this level, it is expected to go up till 3065. It has its support level at 2965.

Technically STI is showing a positive moment. However, investor sentiment are cautious over the GDP data of Singapore due on 13th October'15.

Market Highlights

• Singapore benchmark Straits Times Index (STI) fell 0.55 per cent or 16.63 points to 3,015.48 while investors awaited China's trade data & Japan reopens weaker.

• SPH Reit Q4 DPU of 1.39 Singapore cents and it sees 100% occupancy at both malls.

• Singapore's Tanstarr Group has signed jet fuel term with Gazprom unit

• SIA will deploy first A350 to Amsterdam in April '16.

• Noble climbed to its one-month high as supply cuts spur commodity surge.

• SingPost is growing E-commerce with US & European services.

• SGX is these days reviewing companies' compliance with CG Code.

• China's stock investors confidence has rose sharply in September.

• Singapore central banks are seen easing the monetary policies after Jan shock.

• Haze choking Asia might get even worse if El Nino delays seasonal rain.

• Dollar sliped as Fed officials kept bearish while yuan kept higher.

• Oil prices fell down on supply worries & profit-taking. Opec is seeing more demand for its crude in 2016 as cheap oil hits rivals.

• Gold has climbed to the highest in seven weeks as Fed rate view weighed.