STI Weekly Summary and Macro Economic Factors

STI Weekly Wrap

After 5 weeks winning strike, this week STI tumbles more than 1.5% from previous close below 3400 mark.

STI opens @ 3452.79marks and then it made week high @ 3464.79 this is again a new high for STI, but it can't able to sustain this higher level ,on last 2 trading days STI fell and crossed its support level and made week low @ 3382.82 . Finally closed below 3400 mark @ 3393.17 with loss of 56.13 points down by 1.63% wow basis.

Macro Economic Factors:

• Singapore released the country's final Q1 GDP which was revised up to +0.2% y/y compared to the preliminary reading of -0.6% y/y released in mid-April. On a sequential basis, GDP increased by 1.8% q/q Saar from +3.3% in Q4 2012. At the same time, headline inflation eased to 1.5% y/y in April (consensus: 3.0%) from 3.5% in March.
• Meanwhile, growth of industrial production in April surprised to the upside at 4.7% y/y (consensus: 1.6%) from a revised -3.8% y/y in March, driven by the biomedical manufacturing sector.