STI MARKET REVIEW :
The benchmark Straits Times Index (STI) opened 29.64 points or 1.01 percent lower at 2,896.04 on Monday and ended higher to -9.9 points or 0.34%. STI came off from its intra-day peak off 2923.94 and low 2885.60. Sares opened lower on Monday morning, as Asian markets declined on jittery investor sentiments after Islamist militants launched coordinated attacks across Paris.
The market started at a low after the news of deadly attack in Paris.The Straits Times Index now rests just above the 2,960 and has rebounded after the fall .The global forecast is flat. Morning sentiment was weak and stocks reversed early losses and the market regained its footing after being hit .
We are expecting STI will be positive because opening of the market was gap down but it filled the gap and if cross high i.e. 2924 then it will be positive for some days.
STI COUNTER SPECIFIC NEWS
- SEMBCORP Marine, provider of cruise ship repair, refurbishment and conversion work, successfully upgraded the Pacific Eden and the Pacific Aria at its Admiralty yard.
- Singapore Post has restructured its organisation into four areas of operations after making several investments recently,after the acquisitions of Trade Global Inc. and Jagged Peak.
- Singapore Press Holdings' total newspaper circulation, including print and digital editions, rose 4.3% y-o-y in FY2015,according to the company's annual report..
GLOBAL FACTORS AND WORLD INDICES:
- Asian stocks fell to six-week low,emerging-market stocks declined and currencies weakened as the terror attacks in Paris spurred a selloff in riskier assets.
- China is able to maintain a medium to high economic growth rate and expects economy to grow at around 7 per cent this year after a downfall.
- Tokyo's benchmark stock index ended one per cent lower after data showed Japan's economy slipped back into recession.The Nikkei 225 at the Tokyo Stock Exchange slipped 1.04 per cent, or 203.22 points, to 19,393.69, while the broader Topix index of all first-section shares closed down 0.90 per cent, or 14.30 points, at 1,571.53.
- Oil prices climbed in Asia on geopolitical tensions sparked by the deadly terror attacks in Paris but the global crude supply glut is likely to restrict any gains.
- Japan's economy contracted in the third quarter on sluggish business investment.Gross domestic product declined an annualised 0.8% in the three months.
- The euro fell against its major peers in Asia as dealers shifted back to safer investments after the deadly weekend terror attacks in Paris reinforced concerns about the impact on the already struggling eurozone economy.
- US Treasury Secretary has urged Japan to offer fiscal support to its economy to ensure it returns to growth driven by domestic demand.
- China’s yuan is poised to enter the big leagues of global currencies.IMF have recommended the yuan be included in the fund’s Special Drawing Rights reserve-currency basket, alongside the US dollar, euro, pound and yen.
- Indonesia posted its 11th straight monthly trade surplus, which should guarantee its first annual surplus since 2011 but also shows how weak imports remain.
- China stocks reversed early losses and ended higher, as the market regained its footing after being hit by anxiety stemming from the deadly attacks in Paris.Morning sentiment was also weak also because regulators tightened margin financing requirements over the weekend.