Market Review for STI:
Share prices opened lower with Straits Times Index down 2.89 points to 3280.450. Asian equities continue to trade at a discount and could get a 12-15% upside potential this year, driven by a mild re-rating and earnings momentum. Cooling Chinese inflation overnight added to weak European industrial data earlier in the week, pointing to slowing global growth and eclipsing a positive start to the U.S. earnings season.
Technical indicators:
RSI is above the centre level @51.438, CCI is at 14.452.MACD is observed @1.092.
Important Factor for today:-
Share prices opened lower with Straits Times Index down 2.89 points to 3280.450. Asian equities continue to trade at a discount and could get a 12-15% upside potential this year, driven by a mild re-rating and earnings momentum. Cooling Chinese inflation overnight added to weak European industrial data earlier in the week, pointing to slowing global growth and eclipsing a positive start to the U.S. earnings season.
| STI Day Performance | |
| Open | 3280.450 |
| High | 3284.930 |
| Low | 3264.010 |
| Close | 3275.460 |
| Change(Points) | -7.880 |
| % Change | -0.24 |
| Volume | 2580.3M |
| Rise | 170 |
| Fall | 222 |
| Unch | 392 |
Market forecast for STI:
Due to the slow economic growth data the effect is seen negative today and also the impact is expected to continue until any positive factor is seen in the economy. Technically, in the day chart head & shoulder pattern can be formed. The market is expected to drop but it will also take a corrective action.
Due to the slow economic growth data the effect is seen negative today and also the impact is expected to continue until any positive factor is seen in the economy. Technically, in the day chart head & shoulder pattern can be formed. The market is expected to drop but it will also take a corrective action.
| STI LEVELS | |||||
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3260 | 3252 | 3240 | 3282 | 3290 | 1925 |
RSI is above the centre level @51.438, CCI is at 14.452.MACD is observed @1.092.
| Top Gainers | Top Losers | ||||
| Scrip Name | CMP | %change | Scrip Name | CMP | %change |
| Jardine C&C | 46.8 | 0.75 | Olam Intl | 2.43 | -2.8 |
| JSH 500 USD | 37.06 | 0.71 | Noble | 1.375 | -1.79 |
| HPH Trust USD | 0.735 | 0.69 | UOB | 23.2 | -1.28 |
| HongkongLand USD | 6.69 | 0.6 | Wilmar Intl | 3.2 | -0.62 |
| CityDev | 10.2 | 0.49 | Sembcorp Marine | 4.05 | -0.49 |
- According to CIB report, a strong Singapore dollar should not be seen as too helpful in curbing rising prices, since various measures suggest that inflation pressures are more domestic in nature.
- The bank said Singapore will "maintain competitiveness," noting that manufacturing activity has been picking up, driven by the biomedical, chemicals and transport engineering sectors."Along with the gradual recovery in the global economy, externally-oriented sectors including manufacturing and trade-related services are likely to be supported in the coming quarters," added the report.
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