Singapore SGX- STI Technical Analysis Review and Market Forecast

Market Review for STI:
Straits Times Index opened lower on Tuesday, following the retreat in equity markets in Tokyo, the US and Europe after the Shanghai stock exchange suffered its largest one-day fall of 8.5 per cent in eight years on Monday which sparked concern about global economic growth.
STI ended 32.33 points or 0.98 % lower to 3281.09. Singapore stocks traded in negative territory at midday, in line with broad declines in other Asian markets. STI came off from its intra-day peak of 3306.63 and low of 3277.13.
Singapore's central bank will probably hold off from further monetary easing at its next policy review in October.

STI Day Performance
Open	3305.63
High	3306.63
Low	3277.13
Close	3281.09
Change(Points)	-32.33
% Change	-0.98%
Volume	2254.9 M
Rise	144
Fall	278
Unch	372

Market forecast for STI:
Straits Times Index has broken the support of 3295 and is expected move sideways. There is a short term support at 3265, it is likely to rebound from this level. However if it breaks this level it might further go down.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3265	3223	3200	3312	3346	3385

Technical Indicators:
RSI is below centre line at 38.575 and CCI is at -112.49. Difference line of MACD performed at -4.310 below its signal line which performed at -3.862.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
CHINA HONGCHENG	0.019	375	GREEN BUILD	0.255	-15
CHINA GREAT LAND	0.033	230	METRO	0.915	-8.5
CHINA ESSENCE	0.021	162.5	YZJ SHIPBLDG SGD	1.27	-3.42
CN15500MBECW150929	0.054	63.64	PETRA FOODS	3.25	-2.99
ZHONGXIN FRUIT	0.035	52.17

Important Factor for today:-

• European shares bounced in early trading on Tuesday after falling in the previous five sessions, with some strong company results and mergers and acquisitions news supporting the market.
• Chinese shares fell on Tuesday, as Beijing scrambled once again to prop up a stock market whose wild gyrations have heightened fears about the financial stability of the world's second biggest economy.
• Gold hovered near its weakest level since early 2010 on Tuesday, reflecting investor hesitation to bid up bullion amid growing expectations of a near-term hike in U.S. interest rates. The Federal Reserve begins a two-day meeting later in the day where policymakers are likely to signal that a rate hike later in the year is certain as the U.S. economy strengthens.
• Oil prices fell towards four-month lows on Tuesday, dropping for a fifth straight session on persistent worries about a global supply glut, while stock market sell-offs on both sides of the Pacific also rattled investor sentiment.
• Dollar firmed on Tuesday as cautious investors covered short positions ahead of the start of a two-day U.S. Federal Reserve meeting and as a continued slump in Chinese equity markets sapped appetite for riskier assets.
• Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) reported a 55% drop in second quarter net profit from a year earlier, on lower income from its oil and gas structure construction unit.
• Indonesia will impose a levy on palm oil exports starting on Thursday after weeks of delay, providing as much as 4.5 trillion rupiah this year to state coffers.
• Treasury yields decline for a fifth trading day on Monday, recording the longest losing streak since April 17, as investors seek safe assets during a global stock selloff led by a sharp decline in Chinese markets.

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Singapore Stock Market: STI Technical Analysis & Forecast

Market Review for STI: Straits Times Index (STI) opened 0.3 per cent higher with STI advancing 9.12 points to 3,368.29, as gold prices stemmed a slump. STI ended 2.1 points or 0.06% lower to 3371.40. STI came off from its intra-day peak of 3375.97 and low of 3360.12.Singapore stocks inched up at midday on lack of direction and interest.

Singapore’s inflation rate remained in negative territory in June, although it inched up to -0.3 per cent from -0.4 per cent in May due to larger increases in the costs of services, food and private road transport. Singapore's annual consumer prices fell for the eighth straight month in June, an outcome that could give the central bank room to ease policy if economic growth disappoints.

STI Day Performance
Open	3371.12
High	3375.97
Low	3360.12
Close	3356.4
Change(Points)	-2.80
% Change	-0.08%
Volume	2292.0 M
Rise	187
Fall	230
Unch	390

Market forecast for STI: Straits Times Index is expected to take sideways in next rading sessions. It has its resistance level at 3387, if it breaks this level it might go further up.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3345	3288	3247	3387	3437	3473

Technical Indicators: RSI is slightly above center line at 53.841 and CCI is at 94.946. Difference line of MACD performed at 2.257 below its signal line which performed at -6.699.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
FUXING CHINA	0.55	25	HSI25600MBEPW150730	0.082	-26.79
STARLAND	0.18	21.62	EASTERN	0.168	-25.33
RAFFLES UNITED	0.171	13.25	OCBC BK MBEPW151103	0.091	-22.22
CEFC INTL	0.28	12	HSI26400MBEPW150730	0.193	-16.09
LOTTVISION LTD1	0.405	10.96	REGAL INTL	0.22	-15.38

Important Factor for today:-

• Falling Chinese stock markets and the Greek debt crisis have raised concern about demand, while the Iranian nuclear deal could lead to higher oil exports from the Islamic Republic.
• Oil product inventories surged to their highest since at least 1999, signs that markets are struggling with a supply glut that could prompt refineries in the region to cut rates.
• US home resales rose in June to their highest level in nearly 8-1/2 years, a sign of pent-up demand that should buoy the housing market recovery and likely keep the Federal Reserve on track to raise interest rates later this year.
• European Economic and Monetary Affairs Commissioner Pierre Moscovici said creditor institutions were seeking to conclude talks with Greece on a third bailout in the second half of August.
• apan's economy is expected to expand at a slower pace in the second quarter than projected a month ago in the face of weak consumer spending and exports.
• China stocks rose sharply on Thursday, with the Shanghai Composite index up for the sixth consecutive session, led by blue chips, after the government reaffirmed its support for the market.
• European bonds rallied after Greece's parliament approved a second set of creditor-imposed reforms.
• Greek Prime Minister Alexis Tsipras on Thursday pledged his government would never allow banks to seize the primary residences of Greeks as parliament prepared to vote on a bill that toughens rules on foreclosures.
• South Korea's economy slowed in the second quarter, with consumer spending stifled by an outbreak of Middle East Respiratory Syndrome (Mers) and exports failing to lift from a lengthening slump.
• Oil prices were mixed in Asia on Thursday, with WTI stuck below US$50 a barrel after a rise in US stockpiles added to concerns over a supply glut, analysts said.
• Gold's fallen out of favor with investors as the Federal Reserve prepares to increase borrowing costs, boosting the dollar.
• Ringgit fell the most in more than two weeks as a decline in commodity prices erodes the outlook for Malaysia’s export earnings.
• Oil prices fell on Wednesday after US government data showed higher crude stockpiles, adding to concerns about a global supply glut.

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Singapore Stock Market Daily Report 12th Jan

Share prices opened flat with the Straits Times Index down 1.00 points to 3,337.44.Oil fell further in Asia , with weak demand and a supply glut putting relentless pressure on prices already at their lowest in five and a half years. 

STI Day Performance

Open: 3344.89
High: 3347.76
Low: 3331.72
Close: 3344.89
Change(Points): +6.45
% Change: +.19%
Volume: 1087M
Rise: 139
Fall: 226
Unch: 838

Market forecast for STI: We may expect STI will be up in the next trading day as it may be reach level of 3373 at its major resistance.

Technical Indicators: RSI is at 54 and CCI is at 43.

STRAITS TIME  LEVELS

Support 1: 3301
Support 2: 3280
Support 3: 3260
Resistance 1: 3350
Resistance 2: 3374
Resistance 3: 33404

Important Factor for today:-

• CREDIT Suisse now believes Singapore's central bank will ease monetary policy in April, considering the weaker inflation outlook and subdued GDP (gross domestic product) growth prospects.
• Global oil prices extended their slide weighed by weakening demand in Europe and Asia, while refineries in Philadelphia and Ohio were hit hard by fires over the weekend, curtailing demand for crude in the U.S.
• A sudden new-year jump in Singapore interest rates threatens to push up mortgage costs and steepen a slide in home prices.The three-month Singapore interbank offered rate, against which most home loans are benchmarked, has risen 18 basis points to 0.6392% this year to the highest since April 2010, driven by a stronger US dollar and new liquidity requirements for Singapore banks.
• Business optimism in Singapore tumbled to near-contractionary levels in Q1 2015, amid mounting concerns over an intensification of global political headwinds and softer regional demand in the external-oriented sector.
• Mobile telecommunication services provider Edition is looking to engage in financial services business in China.
• OLAM International said  that it has agreed to sell wool broker Western Wool Marketing to Quality Wool, marking the Singapore commodities group's exit from its niche Australian wool business.

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Singapore Stock Market Weekly Technical view on STI

In this week STI opening was not good First day closed by losing 42 points. Singapore shares retreated as oil prices continued to plunge on fears of falling demand in the midst of oversupply, marking a poor start to 2015's first full week of trading. Second day STI gave a gap down opening. Singapore shares remained weak as investor appetite across the region soured after steep falls in oil prices overnight renewed concerns that global growth might be more tepid than expected. Then came into correction mode ,traders remained nervous after oil prices hit new five-and-a-half-year lows and Greek political turmoil sent the euro skidding. Last day of the week gave gap up opening with 21 points.

STRAIT TIMES WEEKLY WRAP
OPEN	3368.38
HIGH	3372.34
LOW	3267.89
CLOSE	3338.44
CHANGE (In Points)	-32.15
% CHANGE	-0.96%

Market Forecast for week ahead: The trend of market is expected to be bullish for next week. STI formed hammer on the top of the chart. Currently we have seen unusual volatility in markets due to oil prices crisis and global economic tensions. Asian shares climbed for a third straight day following more advances on Wall Street, while bargain-buying helped oil recover slightly from its latest sell-off. We may see bullish really in next week trading session.

Technical Indicators: RSI is above the centre line which is supporting the uptrend for the week at 55.32 and CCI is also supportive at the level of 48.37.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3313	3280	3260	3374	3409	3440

Macroeconomic factors:

• Singapore legal sector's guiding principle is to serve the people and it must also remain open to the region and the global community if it is to build a world-class legal infrastructure.
• China has freed prices of 24 commodities and services, removing all price controls on agricultural products, among other reforms.
• Demand for higher returns in Singapore bonds from the city's swelling private banking industry has brought with it greater risks. 
• Singapore legal sector's guiding principle is to serve the people and it must also remain open to the region and the global community if it is to build a world-class legal infrastructure.
• The online classifieds joint venture is now established between Singapore Press Holdings, Norway's Schibsted Media Group and Telenor Group, and South Africa's Naspers.
• Singapore Shipping Corporation said it has managed to secure a US$16.5 million ($22 million) seven-year term loan financing facility with a leading Japanese financial institution.
• Oil prices were heading for a seventh weekly loss on Friday, with key producers showing no signs of cutting output in the face of a global supply glut. 
• China’s consumer inflation rebounded marginally to 1.5 per cent year-on-year in December, the government said Friday, as slowing growth in the world’s second-largest economy keeps a lid on prices.

Sector Allocation Chart by VOLUME

Sector	Volume	Values($)	Rises	Falls	Unchanged
Properties	140,187,950	216,273,670	28	22	36
Multi-Industry	31,776,000	94,566,644	1	7	9
Construction	45,630,000	5,333,810	11	6	24
Commerce	78,111,000	37,784,848	20	16	63
Hotels/Restaurants	1,437,000	786,911	4	2	11
Transport/Storage/Communications	130,512,340	182,734,180	18	13	19
Finance	34,645,400	300,250,347	14	10	22
Manufacturing	298,795,600	139,300,552	36	54	166
Services	479,315,820	133,599,249	33	48	76
Agriculture	46,469,000	26,691,906	3	2	4
Mining	22,654,000	6,179,907	5	2	6
Electricity/Gas/Water	810,000	929,425	0	2	0
Shares in Foreign Currencies	25,442,689	109,679,942	26	9	114
Total	1,335,786,799	1,254,111,391	199	193	550

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Singapore Stock Market Analysis Report 8th Jan

Share prices opened higher with the Straits Times Index up 5.73 points to 3,304.09.  Asian equity markets rallied, while oil prices enjoyed a rare fillip following a surge in New York and Europe on strong US data and expectations for fresh euro zone stimulus measures. Brent crude extended gains to hold above US$51 a barrel, after an unexpected fall in US crude stocks snapped a 4-session decline the previous day. High for the day was marked at 3347 and low at 3299.

STI Day Performance
Open	3303.65
High	3347.21
Low	3299.64
Close	3345.11
Change(Points)	+46.75
% Change	+1.42%
Volume	1389.3M
Rise	233
Fall	118
Unch	850

Market forecast for STI: Today STI was up by 45 points. We may expect that STI will be bullish in next trading session.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3300	3280	3260	3350	3370	3404

Technical Indicators: RSI is at 54 and CCI is at 29.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
OCBC BANK.SG	0.32	3.14	CAPITAMALL TRUST.SG	-0.05	-2.4
CITYDEV.SG	0.3	2.99	COMFORTDELGRO.SG	-0.01	-0.39
UOB.SG	0.58	2.47	STARHUB.SG	-0.01	-0.24
WILMAR INTL.SG	0.07	2.21	ST ENGINEERING.SG	0.01	0.3
GOLDEN AGRI-RES.SG	0.01	2.2	JMH USD.SG	0.21	0.35

Important Factor for today:-

• Standard Chartered Bank has confirmed reports that it will shut down its institutional equities business globally as part of its US$400-million ($524-million) cost-cutting programme.
• Singapore is updating guidelines on an accounting practice mired in controversy for helping multinational companies minimize their tax bills, as the city-state moves more in line with a crackdown by Western governments on aggressive tax avoidance.
• Investors betting oil will rebound from the lowest prices in 5 1/2-years poured the most money in more than four years into funds that track crude.
• Singapore stocks held on to gains but trading was more subdued than yesterday's as penny stocks were less active
• Singapore's Deputy Prime Minister Teo Chee Hean expressed his sadness after a shocking attack at the office of satirical French magazine Charlie Hebdo left 12 dead and more than 20 injured.
• Raffles Education Corporation's Oriental University City Holdings announced the details of its share listing on the Hong Kong Stock Exchange's Growth Enterprise Market.

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Singapore Stock Market Updates & Technical Report 6th Jan

Share prices opened lower with the Straits Times Index down 42.31 points to 3,328.28.Asian shares tumbled as sliding oil prices and political uncertainty in Greece forced investors out of risk assets and into the safety of government bonds. Singapore shares remained weak as investor appetite across the region soured after steep falls in oil prices overnight renewed concerns that global growth might be more tepid than expected.

STI Day Performance
Open	3294.24
High	3295.51
Low	3272.40
Close	3281.95
Change(Points)	-46.33
% Change	-1.39%
Volume	1333.8M
Rise	114
Fall	260
Unch	827

Market forecast for STI: STI is not stable; it was down by 46.Most probably market will go down.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3260	3240	3230	3330	3350	3370

Technical Indicators: RSI is at 42 and CCI is at 61.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
OLAM INTL.SG	-	-	KEPPEL CORP.SG	-0.37	-4.26
THAIBEV.SG	-	-	SEMBCORP MARINE.SG	-0.12	-3.69
HONGKONGLAND USD.SG	0.11	1.63	GLOBAL LOGISTIC.SG	-0.07	-2.81
GOLDEN AGRI-RES.SG	0.005	1.12	UOB.SG	-0.64	-2.67
SIA.SG	0.09	0.78	SEMBCORP IND.SG	-0.11	-2.55

Important Factor for today:-

• US oil prices dropped below US$50 (S$67) a barrel for the first time since 2009 on a rocky day in global financial markets.
• Demand for higher returns in Singapore bonds from the city’s swelling private banking industry has brought with it greater risks.
• Securities trading value fell 25 per cent while derivatives trading volume rose to a record high in 2014, the Singapore Exchange (SGX) announced.
• SINGAPORE'S manufacturing sector contracted in December, according to the latest Purchasing Managers' Index (PMI), which has fallen to its lowest in close to two years.
• Asian indices fell sharply, after stocks on Wall Street declined overnight following the relentless fall in oil prices.

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Singapore Stock Market Technical Analysis 5th Jan

Share prices opened lower with the Straits Times Index down 5.48 points to 3,365.11.U.S. Crude and Brent dropped to fresh 5-1/2-year lows as worries about a surplus of global supplies amid weak demand continued to drag on oil markets. Singapore shares retreated as oil prices continued to plunge on fears of falling demand in the midst of oversupply, marking a poor start to 2015's first full week of trading.

STI Day Performance

Open: 3326.31

High: 3369.05

Low: 3319.72

Close: 3326.31

Change (in Points): -44.28

%Change: -1.31%

Volume: 1249.1M

Rise: 152

Fall: 228

Unch: 412

Market forecast for STI: STI suddenly dipped today by 42 points and it is expected that STI will go more down.

Technical Indicators: RSI is at 51 and CCI is at 45.

STRAITS TIME LEVELS

Support 1: 3291

Support 2: 3273

Support 3: 3258

Resistance 1: 3373

Resistance 2: 3387

Resistance 3: 3416

Macroeconomic factors:

• Singapore legal sector's guiding principle is to serve the people and it must also remain open to the region and the global community if it is to build a world-class legal infrastructure.
• China has freed prices of 24 commodities and services, removing all price controls on agricultural products, among other reforms..
• AS at Q3 2014, Singapore's office spaces were the 14th most expensive in the world.
• TIGER Airways slumped 3.7 per cent, following the results announcement of its rights issue.
• Poor outlook of the manufacturing sector and the contraction production output in November contributed to low demand for industrial space.
• Share in diamond manufacturing equipment maker Sarine Technologies rose , after the company clarified that it expects fourth-quarter revenue to be in line with, or better, than that a year ago.

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