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Tuesday 28 July 2015

Singapore SGX- STI Technical Analysis Review and Market Forecast

Market Review for STI:
Straits Times Index opened lower on Tuesday, following the retreat in equity markets in Tokyo, the US and Europe after the Shanghai stock exchange suffered its largest one-day fall of 8.5 per cent in eight years on Monday which sparked concern about global economic growth.
STI ended 32.33 points or 0.98 % lower to 3281.09. Singapore stocks traded in negative territory at midday, in line with broad declines in other Asian markets. STI came off from its intra-day peak of 3306.63 and low of 3277.13.
Singapore's central bank will probably hold off from further monetary easing at its next policy review in October.
STI Day Performance
Open
3305.63
High
3306.63
Low
3277.13
Close
3281.09
Change(Points)
-32.33
% Change
-0.98%
Volume
2254.9 M
Rise
144
Fall
278
Unch
372
Market forecast for STI:
Straits Times Index has broken the support of 3295 and is expected move sideways. There is a short term support at 3265, it is likely to rebound from this level. However if it breaks this level it might further go down.
STI LEVELS
Support 1
Support 2
Support 3
Resistance 1
Resistance 2
Resistance 3
3265
3223
3200
3312
3346
3385
Technical Indicators:
RSI is below centre line at 38.575 and CCI is at -112.49. Difference line of MACD performed at -4.310 below its signal line which performed at -3.862.
Top Gainers
Top Losers
Scrip Name
CMP
%change
Scrip Name
CMP
%change
CHINA HONGCHENG
0.019
375
GREEN BUILD
0.255
-15
CHINA GREAT LAND
0.033
230
METRO
0.915
-8.5
CHINA ESSENCE
0.021
162.5
YZJ SHIPBLDG SGD
1.27
-3.42
CN15500MBECW150929
0.054
63.64
PETRA FOODS
3.25
-2.99
ZHONGXIN FRUIT
0.035
52.17






Important Factor for today:-
  • European shares bounced in early trading on Tuesday after falling in the previous five sessions, with some strong company results and mergers and acquisitions news supporting the market.
  • Chinese shares fell on Tuesday, as Beijing scrambled once again to prop up a stock market whose wild gyrations have heightened fears about the financial stability of the world's second biggest economy.
  • Gold hovered near its weakest level since early 2010 on Tuesday, reflecting investor hesitation to bid up bullion amid growing expectations of a near-term hike in U.S. interest rates. The Federal Reserve begins a two-day meeting later in the day where policymakers are likely to signal that a rate hike later in the year is certain as the U.S. economy strengthens.
  • Oil prices fell towards four-month lows on Tuesday, dropping for a fifth straight session on persistent worries about a global supply glut, while stock market sell-offs on both sides of the Pacific also rattled investor sentiment.
  • Dollar firmed on Tuesday as cautious investors covered short positions ahead of the start of a two-day U.S. Federal Reserve meeting and as a continued slump in Chinese equity markets sapped appetite for riskier assets.
  • Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) reported a 55% drop in second quarter net profit from a year earlier, on lower income from its oil and gas structure construction unit.
  • Indonesia will impose a levy on palm oil exports starting on Thursday after weeks of delay, providing as much as 4.5 trillion rupiah this year to state coffers.
  • Treasury yields decline for a fifth trading day on Monday, recording the longest losing streak since April 17, as investors seek safe assets during a global stock selloff led by a sharp decline in Chinese markets.

Thursday 23 July 2015

Singapore Stock Market: STI Technical Analysis & Forecast

Market Review for STI: Straits Times Index (STI) opened 0.3 per cent higher with STI advancing 9.12 points to 3,368.29, as gold prices stemmed a slump. STI ended 2.1 points or 0.06% lower to 3371.40. STI came off from its intra-day peak of 3375.97 and low of 3360.12.Singapore stocks inched up at midday on lack of direction and interest.
Singapore’s inflation rate remained in negative territory in June, although it inched up to -0.3 per cent from -0.4 per cent in May due to larger increases in the costs of services, food and private road transport. Singapore's annual consumer prices fell for the eighth straight month in June, an outcome that could give the central bank room to ease policy if economic growth disappoints.
STI Day Performance
Open
3371.12
High
3375.97
Low
3360.12
Close
3356.4
Change(Points)
-2.80
% Change
-0.08%
Volume
2292.0 M
Rise
187
Fall
230
Unch
390
Market forecast for STI: Straits Times Index is expected to take sideways in next rading sessions. It has its resistance level at 3387, if it breaks this level it might go further up.
STI LEVELS
Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
3345
3288
3247
3387
3437
3473
Technical Indicators: RSI is slightly above center line at 53.841 and CCI is at 94.946. Difference line of MACD performed at 2.257 below its signal line which performed at -6.699.
Top Gainers
Top Losers
Scrip Name
CMP
%change
Scrip Name
CMP
%change
FUXING CHINA 0.55 25 HSI25600MBEPW150730 0.082 -26.79
STARLAND 0.18 21.62 EASTERN 0.168 -25.33
RAFFLES UNITED 0.171 13.25 OCBC BK MBEPW151103 0.091 -22.22
CEFC INTL 0.28 12 HSI26400MBEPW150730 0.193 -16.09
LOTTVISION LTD1 0.405 10.96 REGAL INTL 0.22 -15.38
Important Factor for today:-
  • Falling Chinese stock markets and the Greek debt crisis have raised concern about demand, while the Iranian nuclear deal could lead to higher oil exports from the Islamic Republic.
  • Oil product inventories surged to their highest since at least 1999, signs that markets are struggling with a supply glut that could prompt refineries in the region to cut rates.
  • US home resales rose in June to their highest level in nearly 8-1/2 years, a sign of pent-up demand that should buoy the housing market recovery and likely keep the Federal Reserve on track to raise interest rates later this year.
  • European Economic and Monetary Affairs Commissioner Pierre Moscovici said creditor institutions were seeking to conclude talks with Greece on a third bailout in the second half of August.
  • apan's economy is expected to expand at a slower pace in the second quarter than projected a month ago in the face of weak consumer spending and exports.
  • China stocks rose sharply on Thursday, with the Shanghai Composite index up for the sixth consecutive session, led by blue chips, after the government reaffirmed its support for the market.
  • European bonds rallied after Greece's parliament approved a second set of creditor-imposed reforms.
  • Greek Prime Minister Alexis Tsipras on Thursday pledged his government would never allow banks to seize the primary residences of Greeks as parliament prepared to vote on a bill that toughens rules on foreclosures.
  • South Korea's economy slowed in the second quarter, with consumer spending stifled by an outbreak of Middle East Respiratory Syndrome (Mers) and exports failing to lift from a lengthening slump.
  • Oil prices were mixed in Asia on Thursday, with WTI stuck below US$50 a barrel after a rise in US stockpiles added to concerns over a supply glut, analysts said.
  • Gold's fallen out of favor with investors as the Federal Reserve prepares to increase borrowing costs, boosting the dollar.
  • Ringgit fell the most in more than two weeks as a decline in commodity prices erodes the outlook for Malaysia’s export earnings.
  • Oil prices fell on Wednesday after US government data showed higher crude stockpiles, adding to concerns about a global supply glut.