Tuesday, 30 December 2014

Singapore Stock Market Review for STI 30 Dec

Share prices opened flat with the Straits Times Index up 0.72 points to 3370.77. Asian shares got off to a lacklustre start, as a sharp sell off in commodities and political uncertainty in Greece made investors less willing to take risks in the final trading days of 2014.
High of the day was 3373.93 and low was 3359.29. 
STI Day Performance 
Open: 3370.77 
High: 3373.93 
Low: 3359.29 
Close: 3366.11 
Change (in Points): -1.58 
%Change: -0.5  
Volume: 924.8M 
Rise: 181 
Fall: 174 
Unch: 434 
Market forecast for STI: Asian stocks are falling down as oil hits risk sentiment, from last three days STI was in bullish so now it is in correction mode. We may expect STI will be in consolidation face. 
Technical Indicators: RSI is at 59 and CCI is at 115. 
Support 1: 3340 
Support 2: 3330 
Support 3: 3320 
Resistance 1: 3360 
Resistance 2: 3370 
Resistance 3: 3380 
Macroeconomic factors: 
  • Net demand for office space in Singapore in 2014 was slightly lower at 1.36 million square feet in 2014, as compared to 1.45 million sq ft for 2013.
  • A second ex-president of Singapore Technologies Marine Ltd (ST Marine) has been charged in court, in a corruption scandal that has implicated six of its former high level executives.
  • SBI Offshore has bagged a procurement contract for drilling equipment systems of a semi-submersible offshore rig to be built in China.
  • Oil prices have halved this year, dragging on firms involved in Asian energy projects as costs remain high amid dwindling revenues, yet equity analysts continue to have a largely positive industry outlook.
  • Gross domestic product was seen expanding 2.0 per cent in the fourth quarter from a year earlier, moderating from 2.8 per cent year-on-year growth in the third quarter, according to the median forecast in the poll of 12 economists.DBS Group
  • Holdings made a clean sweep of all three Singapore awards at the recent IFR Asia Awards 2014.


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