9:04 PM
Admin
Weekly wrap of STI:
Overall the week was positive string of positive economic data from China, Europe and the United States, but the trading opportunities were very low in market.STI maintain itself above 3220 mark.
STI opens lower @ 3236.10 and same day made week low @ 3218.90, STI took support at this level and climb upwards and made week high @ 3268.63.finally closed above 3254.13 with gain of 18.03 points up by 0.55%
Micro Economic:
The Singapore Institute of Purchasing & Materials Management's Purchasing Managers' index (PMI) rose to 51.8 points last month from 51.7 points in June, staying above the 50 point level that separates expansion from contraction for a fifth consecutive month. The institute's PMI for the electronics sector, however, fell to 50.3 in July from 51.2 in June.
According to the Ministry of Manpower Unemployment rate in Singapore jumped to 2.1%.Preliminary estimates show that the seasonally adjusted overall unemployment rate was 2.1% in June 2013, up from 1.9% in March 2013 and 1.8% in December 2012.
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