Singapore Stock Market Review 4th Nov

Market Review for STI:
Share prices opened lower with the Straits Times Index down 3.45 points to 3,287.39. Asian markets were mixed today following a soft lead from Wall Street, with Tokyo tacking on another huge set of gains after last week's surprise monetary easing by the Bank of Japan. Shares ended 0.28 per cent lower with the Straits Times Index slipping 9.27 points to 3,281.57. Get Free Signals

FBMKLCI WEEK’s Performance
Open	3292.10
High	3293.61
Low	3278.42
Close	3281.57
Change (Points)	-9.27
% Change	-0.28
Volume	1869M
Rise	167
Fall	237
Unch	388

Market forecast for STI:
STI may dip down to the level of 3260 and then move up and may be in a range of 3240-3260.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3270	3260	3245	3300	3320	3340

Technical Indicators:
RSI is at 52.47 and CCI is at 46.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
JARDINE C&C.SG	39.83	0.96	OLAM INTL.SG	2.04	-3.77
DBS.SG	18.95	0.69	SEMBCORP MARINE.SG	3.65	-2.41
CITYDEV.SG	9.53	0.63	GLOBAL LOGISTIC.SG	2.69	-1.82
OCBC BANK.SG	10.01	0.6	GENTING SING.SG	1.085	-1.81
ST ENGINEERING.SG	3.77	0.27	NOBLE.SG	1.185	-1.66

Important Factor for today:-

• COSCO Corp reported a 17% YoY rise in revenue to S$1.16b and a 69% increase in net profit to S$7.1m in 3Q14, such that 9M14 net profit accounted for 76% and 69% of ours and the street’s estimates, respectively. On a YoY basis, profit was higher due to lower provisions on construction contracts (S$10.6m in 3Q14 vs S$33.9m in 3Q13); a less aggressive depreciation policy also aided bottom-line. However, gross profit margin dropped significantly from 7.4% in 3Q13 to 4.9% in 3Q14 with the execution of lower margin contracts.
• Chip Eng Seng Corporation on Monday said it has won a S$232.8 million contract through its wholly owned subsidiary. The contract was awarded by the Housing & Development Board for the construction of nine blocks of residential buildings and other community facilities. The construction period is about 42 months.
• OUE Hospitality Trust (OUEHT) reported its 3Q14 results which exceeded its IPO prospectus projections marginally, but was within our expectations. Gross revenue came in at S$28.5m, of which S$19.2m and S$9.3m was contributed by its Hospitality (Mandarin Orchard Singapore) and Retail (Mandarin Gallery) segments, respectively.