Singapore Stock Market Review for STI 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. Trading Tips

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.