Singapore Share Market Outlook for STI 29 Oct

Market Review for STI:
STI opened at 3217.74, taking their cue from US stocks, Singapore shares are higher as the market rides the positive momentum overnight on Wall Street, where better-than-expected earnings and upbeat consumer sentiment prompted investors to load up on risk assets. High for the day was marked at 3230.10 and low at 3216.96.

STI Day Performance
Open	3217.74
High	3230.10
Low	3216.96
Close	3224.03
Change(Points)	+12.38
% Change	+0.39%
Volume	1133.9M
Rise	247
Fall	139
Unch	758

Market forecast for STI:
We may see a range bound movement in the next trading session, ranging from 3210-3240.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3210	3200	3190	3230	3240	3260

Technical Indicators:
RSI is at 46.99 and CCI is at 10.16.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
OLAM INTL.SG	2.12	3.92	ASCENDAS REIT.SG	2.24	-3.03
UOB.SG	22.03	1.9	GLOBAL LOGISTIC.SG	2.7	-0.74
JARDINE C&C.SG	40.1	1.67	HPH TRUST USD.SG	0.67	-0.74
JMH USD.SG	60.41	1.43	THAIBEV.SG	0.745	-0.67
SIA ENGINEERING.SG	4.63	1.31	SEMBCORP IND.SG	4.83	-0.62

Important Factor for today:-

• The Hour Glass specialty watch retailer announced last night it had acquired 100% of the issued and paid-up share capital of Watches of Switzerland for $13.3 million.
• Singapore is the best country to do businesses in, topping for a ninth straight year a World Bank ranking that showed improvements by the UK and China while Japan declined.
• Lower unrealized mark-to-market gains sent earnings of Great Eastern Holdings tumbling 31% y-o-y fall in 3Q2014.Earnings for the September quarter fell to $194.6 million from $282.8 million a year earlier.
• Yoma Strategic Holdings' September quarter earnings tripled on the back of a fair value gain on its investment properties. Earnings for the September quarter (FY2Q2015) rose to $10.8 million from $3.3 million a year earlier as the Myanmar-focused diversified business group booked a $8.1 million fair value gain on its Star City project, a major residential and commercial development.
• As the Federal Reserve ends its quantitative easing programme this month, financial markets are expected to see greater volatility but loose monetary conditions in Europe and Japan should limit the risk of any sharp sell-off, according to Bank of Singapore.
• Gains in most Asian markets in the wake of a rally on Wall Street overnight are helping to support Singapore shares, although any further upside for the rest of the session could be modest as investors await the outcome of a two-day meeting by the US central bank's policy-setting committee.