Thursday 10 July 2014

Singapore Stock Market Review 10 July

Market Review for STI:
Singapore share prices opened higher with STI up 6.81 points to 3282.27. On Wednesday it ended 7.88 points lower or -0.24% to 3,275.46 taking the year-to-date performance to +3.49%. Opened at 3282.270 made a high of 3291.270 for the day .The low was marked at 3269.280 .Negative movement is seen today and the close was observed at 3269.500.
STI Day Performance
Open
3282.270
High
3291.270
Low
3269.280
Close
3269.500
Change(Points)
-5.960
% Change
-0.18
Volume
1575.7M
Rise
192
Fall
199
Unch
394
Market forecast for STI:
Market opened well, the positive movement was seen throughout the day, but ended on a reverse note .As per the technicals, and STI is expected to follow the same tomorrow. It may drop to the level of 3260.
STI LEVELS
Support 1
Support 2
Support 3
Resistance 1
Resistance 2
Resistance 3
3260
3255
3250
3272
3280
3295
Technical indicators: RSI is below the centre line @49.005, which indicates a downfall .CCI is @33.019 .MACD is at level of 0.538.
Top Gainers
Top Losers
Scrip Name
CMP
%change
Scrip Name
CMP
%change
Ascendas Reit
2.32
1.31
Golden Agri-Res
0.545
-1.8
Olam Intl
2.46
1.24
Jardine C&C
46.01
-1.69
CapitaMall Trust
1.945
0.78
ST Engineering
3.77
-0.79
HongkongLand USD
6.74
0.75
Global Logistic
2.68
-0.74
StarHub
4.17
0.72
SingTel
3.84
-0.52
Important Factor for today:-
  • China’s exports trailed estimates in June, suggesting support for growth from global demand will be limited as leaders try to defend their economic-expansion goal of about 7.5 percent this year.
  • Overseas-Chinese Banking Corp., which is buying Wing Hang Bank, achieved the “most important thing” by gaining control of more than 50% of the Hong Kong lender.
  • Ezion Holdings shares continued to fall and underperformed along with Ezra halts trading.
  • Housing Development Board (HDB) resale prices of flats dropped for a fifth consecutive month in June, slipped 0.6% compared to May marking a new two-year low since April 2012.
  • DBS Group Holdings priced the issue of US$750 million fixed rate senior notes due 2019, and US$500 million floating rate senior notes due the same year.
  • Asian High Net-Worth individuals (HNWIs) seeking to invest beyond their domestic markets, looking out differentiated products that have higher potential yields and stability.

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