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.

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Singapore Stock Market Review 10 July

Market Review for STI:
Singapore share prices opened higher with STI up 6.81 points to 3282.27. On Wednesday it ended 7.88 points lower or -0.24% to 3,275.46 taking the year-to-date performance to +3.49%. Opened at 3282.270 made a high of 3291.270 for the day .The low was marked at 3269.280 .Negative movement is seen today and the close was observed at 3269.500.

STI Day Performance
Open	3282.270
High	3291.270
Low	3269.280
Close	3269.500
Change(Points)	-5.960
% Change	-0.18
Volume	1575.7M
Rise	192
Fall	199
Unch	394

Market forecast for STI:
Market opened well, the positive movement was seen throughout the day, but ended on a reverse note .As per the technicals, and STI is expected to follow the same tomorrow. It may drop to the level of 3260.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3260	3255	3250	3272	3280	3295

Technical indicators: RSI is below the centre line @49.005, which indicates a downfall .CCI is @33.019 .MACD is at level of 0.538.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
Ascendas Reit	2.32	1.31	Golden Agri-Res	0.545	-1.8
Olam Intl	2.46	1.24	Jardine C&C	46.01	-1.69
CapitaMall Trust	1.945	0.78	ST Engineering	3.77	-0.79
HongkongLand USD	6.74	0.75	Global Logistic	2.68	-0.74
StarHub	4.17	0.72	SingTel	3.84	-0.52

Important Factor for today:-

• China’s exports trailed estimates in June, suggesting support for growth from global demand will be limited as leaders try to defend their economic-expansion goal of about 7.5 percent this year.
• Overseas-Chinese Banking Corp., which is buying Wing Hang Bank, achieved the “most important thing” by gaining control of more than 50% of the Hong Kong lender.
• Ezion Holdings shares continued to fall and underperformed along with Ezra halts trading.
• Housing Development Board (HDB) resale prices of flats dropped for a fifth consecutive month in June, slipped 0.6% compared to May marking a new two-year low since April 2012.
• DBS Group Holdings priced the issue of US$750 million fixed rate senior notes due 2019, and US$500 million floating rate senior notes due the same year.
• Asian High Net-Worth individuals (HNWIs) seeking to invest beyond their domestic markets, looking out differentiated products that have higher potential yields and stability.

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Singapore Stock Market technical Updates 09 July

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.

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.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3260	3252	3240	3282	3290	1925

Technical indicators:
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

Important Factor for today:-

• 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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FOREX Updates for Next week

EUR/USD
The U.S. currency had the biggest weekly decline against the euro in two months as the Fed announced June 18 it will reduce monthly bond-buying while holding its interest-rate target at virtually zero.

 The pound rose for a third week as traders had the most bullish futures wagers since 2007. A gauge of currencies volatility increased from a record low. EUR/USD gains were enabled as the European Commission asserted that the Eurozone’s economic outlook is improving. The Brussels-based institution now sees the Eurozone’s economy expanding by 1.2 per cent this year, up slightly from the 1.1 per cent previously forecast. They also see the unemployment rate in the currency bloc edging to 12 per cent.
Forecast:
The EUR/USD pair broke higher during the course of the week, using the 1.35 level as support. That being the case, it looks as we continue to bounce around in this general vicinity, using the 200 pips as the range for the market right now. Long-term traders will probably avoid this market, but short-term traders will probably find it very profitable as it looks very well contained and we have very obvious support and resistance levels. However, if we do get above the 1.37 level, we feel that the market will finally go back towards a 1.40 handle. A move below the 1.35 level since this market down to the 1.33 handle.
USD/JPY
The USD/JPY ended the week at the 102 range while traders closely monitor the conflict in Iran moving to safe havens while the geopolitical situation boils over. 

In overseas trading overnight, the dollar briefly rose to around ¥102 thanks to a rise in U.S. long-term interest rates following favorable economic data, including the Federal Reserve Bank of Philadelphia’s manufacturing index for June. The dollar was later stuck in a narrow range around ¥101.85.
Forecast:
The USD/JPY pair went back and forth over the course of the week, as continue to meander in a fairly tight consolidation area. It’s a bit difficult for longer-term traders to be involved in this market, and until it break well above the 103 level, we do not see much of a trade to the long side. As far selling is concerned, we think that there is simply far too much support below to even consider it at this point in time. Ultimately, this market breaks out to the upside, but it might take a while.
GBP/USD
With the British Pound currently trading close to a five-year high against the US Dollar, news of the Federal Reserve’s policy meeting can only help enhance the Pound Sterling to US Dollar exchange rate relationship further. 

Thursday has seen the UK retail sales report fall slightly short of predictions; however it’s still lent the Pound some underlying support. The Pound is displaying stability against the US Dollar as the US Federal Reserve is currently showing no intention of increasing interest rates. The Federal Open Market Committee also dropped its initial forecast of a long term interest rate from 4-3.75%.
Forecast:
The GBP/USD pair went back and forth during the course of the week, but closed above the 1.70 handle, a significant move to the upside. That was a pretty strong barrier for us, and we believe that it opens the way to the 1.75 level as a target. It will probably take a bit of time, but we do believe that eventually that level gets hit. If we pull back from here, we would fully anticipate buyers stepping into the market and lifting the British pound yet again.
AUD/USD
The AUD/USD ended the week close to the 94 mark at 0.9383 staying strong after positive data and promises from the Chinese Premier that China will meet its growth expectations regardless of what the government needs to do. 

The currency soared after the FOMC meeting on Wednesday. The ‘Aussie’ fell from its highest level in two months against the US Dollar after peaking at 94.33, the highest level witnessed since April 10th. The Australian dollar has more than shaken off a slight dovish shift by the Reserve Bank of Australia and has not spent much time beneath 94 cents since the FOMC meeting.  It seems likely the market would at some stage like to inquire as to what kind of supply is above 94.4 cents.
Forecast:
The Australian Dollar is now expected to fall against the US Dollar at a quickening pace as the US economy improves and commodity prices fall. The AUD/USD pair went back and forth over the course of the week forming a neutral candle. This neutral candle is still within the consolidation area that we have been in for some time, thereby not really telling us much other than the pressure to breakout to the upside continues. Because of this, we believe that ultimately the Australian dollar does again, but the market has some work to do to make that happen. If we can get a move above the 0.95 handle, we believe that this market goes to the parity level given enough time.
Currency Data from 23 – 27 june

Date	Time	Currency	Impact	Particular	Forecast	Previous
Mon Jun 23	7:15am	CNY	HIGH	HSBC Flash Manufacturing PMI	49.7	49.4
	11:30am	JPY	HIGH	BOJ Gov Kuroda Speaks
	2:30pm	EUR	HIGH	French Flash Manufacturing PMI	49.6	49.6
	1:00pm	EUR	HIGH	German Flash Manufacturing PMI	52.7	52.3
	7:30pm	USD	HIGH	Existing Home Sales	4.74M	4.65M
Tue Jun 24	2:00pm	GBP	HIGH	Inflation Report Hearings
	7:30pm	USD	HIGH	CB Consumer Confidence	83.6	83
		USD	HIGH	New Home Sales	442K	433K
Wed Jun 25	6:00pm	USD	HIGH	Core Durable Goods Orders m/m	0.003	0.003
Thu Jun 26	3:00pm	GBP	HIGH	BOE Gov Carney Speaks
	6:00pm	USD	HIGH	Unemployment Claims	314K	312K
Fri Jun 27	4:15am	NZD	HIGH	Trade Balance	250M	534M
	All Day	EUR	HIGH	German Prelim CPI m/m	0.002	-0.001
	2:00pm	GBP	HIGH	Current Account	-17.1B	-22.4B

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STI | KLCI Stock Market Review

Market Review for STI:
STI opens little bit higher than the previous close @3304.06 and the close was marked @3296.4 ,the low was observed @3292.03 and the high of the day was marked @3304.19.

STI Day Performance
Open	3304.06
High	3304.19
Low	3292.03
Close	3296.4
Change(Points)	-5.840
% Change	-0.18%
Volume	1377.1M
Rise	179
Fall	219
Unch	385

Market forecast for STI:
STI formed a red candle for the day with a real body and a long lower shadow . This is a stick pattern .The overall trend of the market is uptrend so it is expected that STI is will move in trend .Though today it performed low but is expected to move with the major trend which is up.
Technical indicators:
CCI is @125.89 and RSI is @62.16

STI LEVELS
Support 1	3285
Support 2	3275
Support 3	3260
Resistance 1	3305
Resistance 2	3315
Resistance 3	3330

Important Factor for today:-

• The board of directors from Oxley Holding proposed to split every two ordinary shares into three shares .This split will increase the market liquidity of the shares and broaden its shareholder base.The company has 2.98 billion issued shares, if proposal accepted then will have 4.42 billion shares .
• YuuZoo, a Singapore e-commerce firm , plans to go public through a S$490.9 million reverse takeover of W corporation ltd.
• The Singapore Minister for Trade and Industry Lim Hng Kiang said ,the infrastructure need to enhance the financing ecosystem's ability to match projects with available capital .
• China's factory sector performed best due to the improvement in export orders ,it may be a sign of economic stability.

Top Gainers			Top Loosers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
ComfortDelGro	2.4	3	Sembcorp Ind	5.38	-1.28
Noble	1.425	1.79	Wilmar Intl	3.2	-1.24
SPH	4.19	0.48	CapitaMall Trust	2.04	-0.97
DBS	16.98	0.35	ThaiBev	0.635	-0.78
CapitaLand	3.2	0.31	CityDev	10.35	-0.77

Market Review for KLCI:
KLCI prices opens 4.41 points up @1866.37 and the close of the day was marked @1872.55 .The high of the day was marked @1872.55 and the closing was @1872.55. The market performed well than the previous day .From the current price movement the RSI is indicating the up movement while CCI indicating the trend reversal.

KLCI Day Performance
Open	1866.37
High	1872.55
Low	1866.37
Close	1872.55
Change(Points)	+8.3
% Change	+0.44
Volume	1470.8M
Rise	176
Fall	232
Unch	375

Market forecast for KLCI:
The KLCI formed a green candle for the day with no shadows and only a real body.The price movement for the next day may be expected to be in a price range of 1860-1890.

KLCI LEVELS
Support 1	1865
Support 2	1855
Support 3	1845
Resistance 1	1880
Resistance 2	1890
Resistance 3	1900

Technical indicators:
The CCI is marked @-15.575 and RSI is @53.153

Top Gainers			Top Loosers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
IOICORP	5.19	4.43	MISC	6.01	-2.12
HLFG	15.82	1.93	SKPETRO	4.07	-1.45
ASTRO	3.45	1.47	PBBANK	21.06	-0.38
AXIATA	6.9	1.47	IHH	4.16	-0.24
GENTING	10	1.01	UMW	10.78	-0.19

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Singapore & Malaysia Stock Market Daily Analysis

Market Review for STI:
STI opens 6.18 points high then the previous close @3303.23 ,high was marked @3305.35 for the day and closed @3302.24.The major trend is uptrend but today was in minor downtrend and then again prices followed the uptrend .

STI Day Performance
Open	3303.23
High	3,305.350
Low	3,293.120
Close	3,302.240
Change(Points)	+6.390
% Change	+0.19%
Volume	1395.7M
Rise	188
Fall	228
Unch	367

Market forecast for STI:
STI formed a red candle for the day with a small real body and a small upper shadow, and a comparatively long lower shadow. The volume indicates the buying pressure but still the lower closing of the candle indicates a selling pressure too .In such case the buyer and seller are equally aggressive and may take the market in either buying or selling zone . The opening candle of the next day may clear the sentiments.

Technical indicators:

RSI is above the centre line @64.55, where CCI @157.72

STI LEVELS
Support 1	3295
Support 2	3285
Support 3	3275
Resistance 1	3309
Resistance 2	3320
Resistance 3	3330

Important Factor for today:-

• Asian markets on rise .The Euro faced a pressure because of the monetary policy while the dollar was firm this week.
• According to Singapore Commercial Credit Bureau (SCCB) the commercial prompt payment declined sharply in Q1, it reversed the uptrend from the preceding quarter.
• Oil prices high in Asian trade today because of strong Chinese manufacturing activities.
• Tiger Airways Holdings marked a sharp decline in prices in more than four months .The stock dropped 8.5%, it was the biggest intraday drop since January 24 .It made a seven months high and jumped 21 %.
• Swing Media Technology Group posted record earnings of HK$83.13 million ($13.45 million) for the fiscal year ended March 31.

Top Gainers			Top Loosers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
SPH	4.17	1.71	Olam Intl	2.3	-1.71
ThaiBev	0.64	1.59	HPH Trust USD	0.74	-1.33
Noble	1.4	1.08	Golden Agri-Res	0.57	-0.87
SGX	6.96	1.02	CapitaMall Trust	2.06	-0.48
Wilmar Intl	3.24	0.94	HongkongLand USD	6.99	-0.43

Market Review for KLCI:
KLCI opened low by 4.91 points @ 1867.80.The high was marked @1876.17 and the low for the day was marked @1861.48.The overall trend is up while from the last 10 days the trend is down . With a minor uptrend it is again expected to reverse .

KLCI Day Performance
Open	1867.8
High	1876.17
Low	1861.48
Close	1864.25
Change(Points)	-9.130
% Change	-0.49%
Volume	1395.7M
Rise	188
Fall	228
Unch	367

Market forecast for KLCI:
KLCI formed a red candle for the day with a long upper shadow and a real body which indicates that the market is down .If it breaks the level of 1862 then it may decline more .The inverted hammer formed on the previous day indicates a reversal of trend.

KLCI LEVELS
Support 1	1861
Support 2	1855
Support 3	1845
Resistance 1	1872
Resistance 2	1887
Resistance 3	1897

Technical indicators:

RSI is just below the centre line @47.12 where the CCI is performing at –38.78

Top Gainers			Top Loosers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
GENM	4.22	3.69	PETDAG	24.48	-3.01
FGV	4.34	2.36	PETGAS	23.82	-2.78
GENTING	9.9	1.75	PBBANK	21.14	-2.13
IOIPG	2.52	1.61	CIMB	7.22	-1.64
IHH	4.17	1.46	AMBANK	7.24	-1.36

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Comex Market Updates: Daily Technical Analysis

GOLD

Holdings of the SPDR Gold Trust fell 3.3 tonnes to 776.89 tonnes on Wednesday, the lowest since December 2008. The outflow was the biggest since April 30. Though Gold prices in the international markets gained Yesterday as the minutes from the Federal Reserve suggested that central bank would note raised interest rates soon.
Forecast
Gold price are expected to trade in the consolidate range.
SILVER

ETF Holdings of New York’s iShares Silver Trust SLV, fell by 35.86 tonnes stood at 10,284.40 tonnes from previous business day.
Spot silver prices rose by 0.4% in yesterday’s trade diverging from the gains in gold prices. A sharp upside was capped on account of strength in the DX.

Forecast
Silver prices are expected to trade consolidate in a range.
CRUDE
NYMEX CRUDE ended lower yesterday on profit booking after the rally a day before by ongoing violence in Libya and positive economic data in China and the United States. Prices fell after the release of the weekly Jobs numbers from the US which increased to 326,000, higher than markets estimates of 310,000. Along with this some selling pressure was also seen in the market. WTI crude fell 0.3% to 103.75 barrel as data came from US on housing and jobs too came weaker than expected. ICE Brent also pulled back some gains close to $110.40 barrel.

Overall though broad bullishness remains in the US crude which took strong upward momentum out of the better stocks data recently. As also reported earlier, DoE said crude stockpiles fell 7.2 million barrels to 391.3 million for the week ended May 16.
Overall a broad bullishness is seen in the US crude which took strong upward momentum. According to the DOE crude stockpiles fell 7.2 M barrels to 391.3 M for the week ended May 16.
There are some positive signs for demand in gasoline consumption as the demand in market over the past four weeks increased to 8.94 MBPD, its highest level since November and up 5.3% on a YoY comparison. So refiners churn more oil for producing gasoline.
Forecast
Crude oil prices could trade sideways.
TODAY’S DAY RANGE

COMMODITY	S1	S2	R1	R2
GOLD	1290	1280	1298	1310
SILVER	19.00	18.50	20.00	20.50
CRUDE	103	102.50	104	104.50

DAY’S HIGHLIGHT

• US Unemployment Claims rose to 326,000 for w/e on 16th Apr’14.
• Euro Zone Manufacturing PMI fell to 52.5-mark in current month.
• SPDR Gold holdings fell 3.3 tonnes to 776.89 tonnes on Wednesday.
• UK’s Second Estimate GDP unchanged at 0.8 percent in Q1 of 2014.

Data Update for 23th May 2014

Time	Currency	Particular	Actual	Forecast	Previous
7:30am	CNY	CB Leading Index m/m	0.90%		1.10%
11:30am	EUR	German Final GDP q/q		0.80%	0.80%
1:30pm	EUR	German Ifo Business Climate		111	111.2
	EUR	Italian Retail Sales m/m		0.30%	-0.20%
Day 2	EUR	European Parliamentary Elections
6:00pm	CAD	Core CPI m/m		0.20%	0.30%
	CAD	CPI m/m		0.30%	0.60%
6:30pm	EUR	Belgian NBB Business Climate		-4.7	-4.6
7:30pm	USD	New Home Sales		426K	384K

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