Singapore Share Market Daily Outlook - 30 July

Market Review for STI:
STI opened at 3356.07 today. The early trading was little bullish then market took the bearish move and close at 3351.310. Asia's markets rose further on Wednesday, extending a recent rally, with a weaker yen boosting Tokyo while investors await the release this week of key US data and the Federal Reserve's policy meeting.

STI Day Performance
Open	3356.070
High	3364.050
Low	3349.690
Close	3351.310
Change(Points)	-4.770
% Change	-0.14%
Volume	1649.6M
Rise	128
Fall	278
Unch	701

Market forecast for STI:
Prices are above the 20&50 days EMA .Though the market is not good the counters are not in a bullish move rather most of the active counters are in consolidation phase .In such case, the starting of the market can indicate the bullishness or bearishness for the same.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3320	3260	3240	3450	3470	3500

Technical indicators:RSI is above the centre line and is at level 70.51 and CCI is at 136.93.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
OCBC Bank	9.91	1.54	SIA Engineering	4.69	-1.88
CapitaLand	3.32	0.91	ThaiBev	0.625	-1.58
UOB	24.05	0.29	CapitaMall Trust	1.98	-1.49
DBS	18.08	0.28	JSH 500 USD	35.81	-1.16
HongkongLand USD	6.73	0.15	Noble	1.42	-1.04
OCBC Bank	9.91	1.54

Important Factor for today:-

• Singapore’s Oversea-Chinese Banking Corporation has acquired a total of 97.52% of the issued share capital of Wing Hang Bank, closing the US$4.95 billion ($6.15 billion) bid for the Hong Kong lender.
• Keppel Land, Singapore’s third- biggest developer by value, made its maiden investment in the U.S. with a prime residential development in New York City.
• Singapore’s City Developments and Australia’s Stock land Group are considering bidding for Leighton Holdings’ $7 billion ($8.7 billion) residential and commercial property portfolio, a leading Australian newspaper reported on Tuesday.
• Singapore's central bank announced new proposals to regulate financial benchmarks, in the wake of a series of scandals around the world involving traders manipulating Libor and other key rates.