STI Singapore Market Forecast 01-March

Market forecast:

Market turns from its recent low of 3250.87, and closed with gain on 2^nd consecutive day but not able to sustain the higher levels.

Today STI formed a candlestick pattern called “Three inside Up”, another name for the Confirmed Bullish Harami Pattern. The third day is confirmation of the bullish trend reversal.

The first 2 days of this pattern is simply the Bullish Harami Pattern, and the third day confirms the reversal suggested by the Bullish Harami Pattern, since it is a white candlestick closing with a new high for the last three days. The reliability of this pattern is very high.

Now for coming days 3250 will act as a major support zone because if STI break this level then it will be more bearish and can touch 3220-3190 levels soon.

Support:

STI having immediate support @ 3260 level and below this level it can take support @3240-3220 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3285 and above this level it may take resistance @ 3300-3315 levels.

Technical indicators:

Technical indicators MACD, RSI and CCI all are in bearish mode. As we can see in the chart, RSI trading above its centreline @ 51.878 and CCI recovers some points from -119.93 today closed @ -70.947

Singapore Stock To Watch Today 28-Feb 2013

UNITED OVERSEAS BANK LTD

Singapore's United Overseas Bank reported a 25 percent jump in fourth-quarter net profit to S$696 million ($561.5 million) from a year earlier, lifted by strong fee and commission income.

CITY DEVELOPMENTS LTD

City Developments posted a 52.8 percent rise in fourth-quarter net profit to S$249.3 million from a year earlier, boosted by strong earnings from the property development segment and hotel operations. It proposed a total dividend of 13 Singapore cents per share for 2012.

ROTARY ENGINEERING LTD

Singapore oil and gas services firm Rotary Engineering swung to a net loss of S$18.4 million in the fourth quarter, hurt by additional costs at the tail end of the construction phase in Saudi Arabia. Rotary proposed a final dividend of 0.5 Singapore cents per share.

TIGER AIRWAYS HOLDINGS LTD 

Budget carrier Tiger Airways said it is not currently seeking a replacement chief executive officer for Tiger Australia, given the existing corporate developments related to the proposed sale of 60 percent of Tiger Australia. Andrew David will leave the company on Mar. 14.

YOMA STRATEGIC HOLDINGS LTD

Myanmar-focused property developer Yoma Strategic Holdings announced its expansion plans in the automotive business and the appointments of several key executives.

STI Singapore Market Forecast 27-Feb

Market Review:

STI tumble today as it opens gap down and made its 1 month low.  Amid concerns over the political uncertainty in Italy, and the lack of progress in Washington to avoid spending cuts due to take effect on Friday. 

Singapore share prices opened gap down @ 3269.31 and then it made a high of 3277.12 after that STI fell down and made is 1 moth low @ 3250.87 and finally closed with loss of 34.50 points down by 1.05% @ 3254.26. Volume was 6.9 billion shares. Losers led gainers 373 to 127. 

Singapore's Industrial Production numbers came in below expectations for January mostly dragged down by a sharp contraction in the biomedical sector. Forecast 4 % expansion from a year ago, but manufacturing output instead contracted 0.4 % on-year.

Market forecast:

For the STI, as we mentioned two weeks ago that it has broken the uptrend line formed since  November 2012.Although it tried to climb above rising trend line on in mid February after Chinese new year. It promptly moved below the rising trend line. It seems to be consolidating around 3,250-3,320.

Now for coming days 3250 will act as a major support zone because if STI break this level then it will be more bearish and can touch 3220-3190 levels soon.

Support:

STI having immediate support @ 3235 level and below this level it can take support @3220-3190 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3280 and above this level it may take resistance @ 3300-3315 levels.

Technical indicators:

Technical indicators MACD, RSI and CCI all are in bearish mode. as we can see in the chart, RSI trading below its centreline @ 47.060 and CCI also break its -100 level and trading below this @ -143.30 which is bearish indication for market.+

Singapore Stock Market Forecast for 26 Feb 2013

Market Review:

It was an important day for Singapore Stock Markets as announced its Yearly Budget for Fiscal Year 2013-14.

Singapore share prices opened higher at day high at 3297.57 and then it fell down and took support at 3287.42 and then traded in a narrow range of 3287-3295 and finally closed at 3288.76 with gain of 0.63 points up by 0.02%.

Singapore's inflation rate came in lower-than-expected last month, partly because of a higher base brought about by the Chinese New Year holidays in January last year.  Consumer Price Index (CPI) in January 2013 rose 3.6 per cent from a year earlier, after increasing 4.3 per cent on-year in December.

Some 6.02 billion shares, valued at S$1.60 billion were traded. Gainers outnumbered losers 262 to 216.

Market forecast:

Today STI index starts with good mood but due to Budget and various data’s, STI trading in narrow range and closed with moderate gain.

STI today formed a candlestick pattern called black candle which is formed after 3 consecutive indecisive candles. Also STI breached its up slopping trend line which is bearish sign.

STI breached its bullish channel and trading below this level so it is time to be caution, because if STI sustain below this channel so it will be more bearish and for further up move it should cross the 3315 level.

Support:

STI having immediate support at 3260 level and below this level it can take support at 3240-3220 will be the support zone for STI.

Resistance:

STI having immediate Resistance at 3300 and above this level it may take resistance at 3315-3325 levels.

Technical indicators:

Technical indicators are seems to overbought zone on charts.

Singapore Budget for Fiscal 2013/14 - Key Highlights

Singapore Budget Highlights

The following are highlights of Singapore's budget for the 2013/14 fiscal year starting in April.

Public anger is running high in the affluent city-state about a surge in immigration that is blamed for overcrowding, rising prices and competition for jobs and housing.

Singapore, the Asian base for many Western companies and banks, has large current account surpluses and huge reserves, giving ample room to boost spending on social services and help local firms.

The budget was presented in parliament on Monday by Finance Minister Tharman Shanmugaratnam.

BUDGET SURPLUS

- Singapore expects an overall budget surplus of S$2.4 billion ($1.94 billion) for fiscal 2013/14, equivalent to 0.7 percent of gross domestic product

- For fiscal 2012/13, the overall budget surplus is expected to be S$3.9 billion

- The basic surplus for fiscal 2013/14 is projected at about S$300 million after factoring in various tax rebates and the new three-year Transition Support Package (see below). "At 0.1 percent of GDP, this is close to a balanced budget and reflects a neutral fiscal stance"

STI Singapore Stock Market Weekly Outlook 25 Feb - 01 Mar

STI Technical Chart

Market Forecast for week ahead:

STI currently is in consolidation/correction phrase which denotes the good entry for investors. It’s only a 3 month rally in STI and its not at its highest level the higher levels are still there.

As STI trading above its 61.8% retracement level and heading towards the 78.6% mark, in between STI having immediate resistance levels after breaching these levels STI can move towards the next level.

STI is in intermediate consolidation or correction phrase and we can expect some more point’s correction in it which will be healthy for new investors who want to enter in the markets.

STI made a tweezers bottom candlestick pattern with doji stars. It reflects that index traded and took support at the same levels which is bullish sign for STI.

STI Resistance Levels:

STI having Resistance @ 3315 and above this level it may take resistance from 3345-3385 levels.

STI Support Levels:

STI having nearest support @ 3260 below this 3240-3220 will be the support area for market.

Technical Indicators:

Technical indicators give the impression of being in overbought zone.MACD gives bullish cross over and RSI rebound from high and trading @ 69.69 mark.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3260	3240	3220	3315	3345	3385

Weekly Wrap and Economical Data for the Week

Weekly wrap of STI:

It was a mixed week for STI as after shorten previous trading week, investors were cautious even not so active in trading.

STI opens @3288.24 and then it try to crossed 3300 mark and opens with gap on higher side for 3 days and made week high @ 3311.67 and them it traded below the opening level and made low of 3274.86 and finally closed @ 3288.13 near to opening level with gain  of 5.06 up by 0.15% wow basis.

Economic data:

• Singapore's non-oil domestic exports (NODX) rose marginally by 0.5 % in 2012, led by higher non-electronic exports, after growing 2.2 % in 2011. NODX forecast for 2013 is expected to come in between 2 and 4%.
• Singapore’s economy grew by 1.5% in 4Q12, better than the street’s expectations of a 1.2% growth, as well as the zero growth seen in 3Q12. 
• On a seasonally-adjusted annualized basis, the economy expanded by 3.3% QoQ, compared to the 4.6% contraction in 3Q12.
• Manufacturing grew by 3.1% QoQ vs 3Q12’s 16.6% decline, largely due to a rebound in biomedical output and transport engineering.
• Construction contracted by 3.9% while services grew by 2.5% QoQ. All these factors brought 2012 growth to 1.3%.
• For 2013, the official growth forecast is maintained at 1.0- 3.0%, but key risks include the fiscal cutback in the US and the Euro zone debt crisis.

Singapore Stock Market Forecast for 21 Feb

Market Review

Singapore shares opened higher and maintain itself above the 3300 mark.

Singapore share prices opened higher @ 3309.36 and then made a high of 3311.67 and then traded in lower levels and made day low @ 3298.09.Finally closed with some recovery @ 3308.89 with gain of 13.12 points up by 0.40%.

Some 6.91 billion shares, valued at S$1.86 billion were traded. Gainers outnumbered losers 334 to 179.

Market forecast:

Today STI crossed its last week high of 3304.87 and made new high @ 3311.67, but finally closed below the high @ 3308.89.

STI today formed a candlestick pattern called “Long Legged Doji”. Long Legged Doji shows that there is a great amount of indecision in the market. This pattern is formed when prices trade well above and below the day's opening price, but then close almost at the same level as the opening price.

At the highest level it’s obvious for any scrip or index to retrace or take some consolidation move. However STI retrace some points from its recent high, but overall it’s looking bullish on chart. As STI trading between the 61.8% to 78.6% retracement level. So technically it’s good if STI will retrace some points because for further move its will help.

STI trading in a bullish channel and took support at its lower trend line. It’s a positive sign whenever STI closed and maintain itself above this lower channel.

STRAITS TIME LEVELS
Support 1	3280
Support 2	3260
Support 3	3240
Resistance 1	3315
Resistance 2	3325
Resistance 3	3350

Support:

STI having immediate support @ 3280 level and below this level it can take support @3260-3240 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3315 and above this level it may take resistance @ 3325-3350 levels.

Technical indicators:

Technical indicators are seems to overbought zone on charts.

Singapore Stock Market Forecast for 20 Feb

Market forecast:

Today STI crossed its last week high of 3304.87 and made new high @ 3306.61, but finally closed below the 3300 mark.

At the highest level it’s obvious for any scrip or index to retrace or take some consolidation move. However STI retrace some points from its recent high, but overall it’s looking bullish on chart. As STI trading between the 61.8% to 78.6% retracement level. So technically it’s good if STI will retrace some points because for further move its will help.

STI trading in a bullish channel and took support at its lower trend line. It’s a positive sign whenever STI closed and maintain itself above this lower channel. 

Support:

STI having immediate support @ 3280 level and below this level it can take support @3260-3240 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3310 and above this level it may take resistance @ 3325-3350 levels.

Technical indicators:

Technical indicators are seems to overbought zone on charts.

STI Singapore Technical Outlook 19-Feb

Market Review:

Singapore shares opened higher on Monday with the Straits Times Index up 7.05 points to 3,290.12.Gainers beat losers 130 to 51.

Singapore share prices opened higher and then made a high of 3290.62 and then traded in a narrow range and made day low at 3279.98 and finally closed with gain of 5.070 points up by 0.15% at 3288.140.

Some 4.48 billion shares, valued at S$1.32 billion were traded. Losers outnumbered gainers 246 to 245.

Market forecast:

STI fell for its 3^rd continuous day after Chinese New Year holidays and today is new trading week, where STI opens higher.  

However STI retrace some points from its recent high, but overall it’s looking bullish on chart. As STI trading between the 61.8% to 78.6% retracement level. So technically it’s good if STI will retrace some points because for further move its will help.

STI having support at its previous resistance level i.e. 3240 mark which is the lower level of channel and if STI crossed this level then we can see lower levels and 3220-3195 will act as a major support zone for STI.

ST Technical Support:

STI having immediate support at 3260 level and below this level it can take support at 3240-3220 will be the support zone for STI.

STI Technical Resistance:

STI having immediate Resistance at 3290 and above this level it may take resistance at 3305-3320 levels.

Technical indicators:

Technical indicators are seems to overbought zone on charts.

Singapore Stocks Index Flat, China Minzhong & Ezion Outperform

Singapore shares were little changed, but vegetable processing firm China Minzhong Food Corp Ltd and oil and gas services provider Ezion Holdings Ltd outperformed the market.

The Straits Times Index was flat, while MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 percent.

China Minzhong shares jumped as much as 12.3 percent to s$1.145, the highest in nearly a year. The stock was the top traded by value in Singapore on Monday.

China Minzhong said last week Indonesian food producer PT Indofood Sukses Makmur Tbk had bought 98 million shares, or a 14.95 percent stake in the company, at S$0.915 each.

Maybank Kim Eng said Indofood may acquire more shares in China Minzhong, and a privatisation offer in future is possible.

"We continue to like China Minzhong for its prosperous growth outlook and undemanding valuation. Better use of the proceeds from the placement would be a catalyst for the stock," the broker said, raising its target price to S$1.36 from S$1.16 and maintained 'buy'.

Ezion shares gained as much as 4.3 percent after the company said it had won a charter contract worth around $79.9 million to provide a jack-up rig to support a South Asian based national oil company.

The three-year contract comes with an option for another two years.

Singapore Straits Times Weekly Outlook 18-22 Feb

Weekly wrap of STI: 

It was a truncate week due to Chinese New Year, there were only 3 trading sessions and STI try to cross its recent high but fails to do so.

STI opens @3285.76 and then on the same day it made a high of 3304.87 but can’t able to sustain that level and slips below 3300 mark and made week low @ 3273.95 and finally closed @ 3283.07 with gain of 12.77 points up by 0.38% wow basis.

Economic data:

Sales of new private homes in Singapore jumped by about 42 % on-month in January 2013, despite the latest round of cooling measures introduced last month.

Singapore's retail sales dipped 1.5 % in December compared to the previous year - dragged by lower sales in telecommunication and computer items.

Market Forecast for week ahead: 

STI itself maintain above the 3250 mark, but trading in a very narrow range in this week but able to closed above the 3280 mark.

As STI trading above its 61.8% retracement level and heading towards the 78.6% mark, in between STI having immediate resistance levels after breaching these levels STI can move towards the next level.

Now festival session is over and we can see fare move in the market from next week, above 3300 mark STI looks good and on the other side 3250 will act major support area for STI.

STI Resistance:

STI having Resistance @ 3315 and above this level it may take resistance from 3345-3385 levels.

STI Support:

STI having nearest support @ 3260 below this 3240-3220 will be the support area for market.

Technical Indicators:

Technical indicators give the impression of being in overbought zone .MACD gives bullish cross over and RSI rebound from high and trading @ 69.534 mark. 

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3260	3240	3220	3315	3345	3385

Singapore Stock Recommendations - 15 Feb 2013

STOCKS TO WATCH

OVERSEA-CHINESE BANKING CORP

OCBC, Singapore's second-biggest lender, posted a 12 percent jump in fourth-quarter net profit due to a rise in fee income and a quadrupling of gains from its insurance unit that offset weak interest margins. OCBC earned S$663 million ($537 million) in the three months ended in December, compared with S$594 million a year earlier.

SINGAPORE TELECOMMUNICATIONS LTD

Barclays Research raised SingTel's target price to S$3.65 from S$3.50 and kept its 'overweight' rating. The brokerage expects a flattish earnings profile for SingTel this fiscal year, but foresees a 12 percent three-year earnings compound annual growth rate thereafter. Shares of SingTel fell more than 2 percent on Thursday after it posted weak third-quarter earnings.

KEPPEL LAND LTD

Keppel Land China Limited has partnered its property fund management arm, Alpha Investment Partners Limited, to acquire stake in a retail mall in Shanghai for $126.5 million, in line with its strategy to grow its commercial portfolio in high-growth cities.

TAT HONG HOLDINGS LTD

The cranes and heavy equipment supplier said its third-quarter net profit rose 37 percent to S$17.8 million, boosted by gains from asset sales and stronger crane rental revenues.

STARHILL GLOBAL REIT

Starhill Global has secured a 10 percent rent increase for the master lease with Toshin Development Singapore Pte Ltd in a retail mall Ngee Ann City.

Singapore bonds issuance hits record high in 4Q12

Proceeds up 49.7% YoY.

According to Thomson Reuters, primary bond offerings from Singapore-domiciled issuers witnessed a record volume of US$31.1 billion, as local companies tap both domestic and foreign bond markets to raise funds, soaring 108% higher than last year. Total bond proceeds during the fourth quarter of 2012 totaled US$3.8 billion, a 69.8% drop coming off from a record- high during the third quarter of 2012 (US$12.6 billion), but saw a 49.7% growth from fourth quarter of 2011. 

Here's more from Thomson Reuters:

Singaporean borrowers that tapped the US-dollar bond market raised US$10.8 billion in proceeds this year, a three-fold increase compared to the previous year, making it the best annual period ever in terms of value and number of new issues.

DBS topped the Singaporean-issued bonds underwriting this year, with related proceeds of US$6.4 billion from 47 new issues, up 75% from the previous year. According to estimates from Thomson Reuters/ Freeman Consulting Co., DBS booked an estimated US$19.3 million in fee revenues, a 41.5% increase from last year, and accounted for 19.8% of Singapore’s bond fee pool. Underwriting fees from bond issuance by Singaporean companies grew 87% to US$97.3 billion over the same period in 2011.

Singapore Stocks To watch Today 13-Feb

STOCKS TO WATCH

GREAT EASTERN HOLDINGS

Singapore insurer Great Eastern Holdings said fourth-quarter net profit tripled to S$225.6 million ($182 million) from S$68.9 million a year earlier on trading gains and a better investment performance due to market recovery.

UNITED INDUSTRIAL CORP

Property developer United Industrial said full-year net profit doubled to S$391.6 million from S$195.4 million a year earlier after gains in revaluation of investment properties.

COMFORTDELGRO CORP LTD

Transport operator ComfortDelGro posted a 5.6 percent jump in full-year net profit to S$248.9 million from S$235.6 million a year earlier, with broad-based growth in revenue from nearly all units.

Equities and Oil Steady - Singapore Stock Market

Oil and equities dawdled on Monday near multi-month highs scaled after robust Chinese trade data last week, while the euro slipped to a two-week low as uncertainty surrounded a political scandal in Spain and a looming election in Italy.

With the Lunar New Year holiday shutting most Asian financial centres, including those in Japan, China, Hong Kong, Singapore and South Korea, trading was light and volatile on many of those exchanges that remained open.

European markets were expected to likewise lack momentum in the absence of major economic drivers and ahead of a meeting of the Eurogroup, where the discussion around the risk of a global round of competitive currency devaluation could re-emerge.

Straits Times Index - Intraday Outlook for 08-Feb

Market Summary:

Singapore shares open lower and traded on the lower side most of the day.

Singapore share prices opened lower @ 3274.80 and then it starts fell down and took support @ its lowest level for day @ 3251.61, after making this low STI recovers some points and closed above 3260 levels @ 3261.77 with loss of 14.76 points down by 0.45%.

Volume was 3.45 billion shares valued at S$1.58 billion. Losers led gainers 336 to 168.

Market forecast:

STI continuously falling after making its 5 year high @ 3320 mark in the beginning of this week.

However STI retrace some points from its recent high, but overall it’s looking bullish on chart. as STI trading between the 61.8% to 78.6% retracement level . So technically it’s good if STI will retrace some points because for further move its will help.

STI having support @ its previous resistance level i.e. 3240 mark which is the lower level of channel and if STI crossed this level then we can see lower levels and 3220-3195 will act as a major support zone for STI.

Support:

STI having immediate support @ 3240 level and below this level it can take support @3220-3200 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3285 and above this level it may take resistance @ 3300-3315 levels.

Technical indicators:

Technical indicators are seems to overbought zone on charts.