SGX Singapore - STI Technical & Fundamental Analysis with forecast signals

Market Review for STI: Singapore shares continued to trade weaker. STI slipped 0.40% to 3320.33. The Straits Times Index came off from its intraday peak of 3333.99 and low of 3,318.28. Singapore shares traded weaker, even as US non-farm payrolls for the month of May came in better than expected last Friday at 280,000, topping estimates of 226,000.

However, US unemployment rate inched up to 5.5% in May, as compared to 5.4% in April.
Open- 3326.37
High- 3333.99
Low- 3318.28
Close- 3320.33
Change(Points)- -13.34
% Change- -0.40%
Volume- 161.53M
Market forecast for STI: Straits Times Index is expected to continue its downward moment as Singapore FX Reserves released today has decreased from 251.9B in May to 250.2B in June which might have a negative impact on the market.
Technical Indicators: RSI at 23with its CCI at -152.
GLOBAL FACTORS & WORLD INDICES:

• Singapore’s public transport operator SMRT has backed out of a proposed investment in a firm bidding to become the fourth wireless telecommunications operator in the island nation, but it may only be a temporary reprieve for the incumbents, Citigroup says.
• Singapore Telecommunications (Singtel) has launched a cloud-based solution that helps enterprises in Asia Pacific, Australia, Europe and the US simplify the management of their networks.
• Crude oil prices fell on Monday as markets were expectedto be increasingly oversupplied following OPEC’s decision tokeep its production targets unchanged.
• U.S. benchmark Treasury debt yields on Friday posted theirbest weekly performance in two years after data showed theworld’s largest economy created more jobs than expected lastmonth, bolstering prospects for a Federal Reserve interest ratehike in September.
• Stocks in Japan fell Monday as expectations of a U.S. interest rate increase grew, while the Shanghai Composite Index SHCOMP, +1.91% rose to its highest in more than seven years after a volatile week.
• Hong Kong stocks managed to shed most of their opening losses Monday morning, shrugging off a drop for U.S. markets at the end of last week, with the Hang Seng Index HSI, +0.48% down 0.1%, moving off earlier lows as weak Chinese trade data for May suggested higher odds for more government stimulus. The data printed weaker than expected, showing a 17.6% tumble in imports and a 2.5% drop for exports.
• Japanese stocks came rolling higher in early Monday trade, emboldened by a sharply weaker yen and Friday’s gains for U.S. banks in the wake of an upbeat May jobs report. The Nikkei Stock Average NIK, -0.02% added 0.3%, wiping away Friday’s 0.1% slip, while the broader Topix I0000, -0.30% improved by 0.2%. Blue-chip exporters enjoyed a boost as the yen explored new 13-year lows against the dollar USDJPY, -0.05% which was buying ¥125.54 early Monday.
• The China Securities Regulatory Commission is revising the rules in a bid to achieve “orderly development” in brokerage firm’s margin-trading and short-selling businesses.
• The dollar was lower against the yen in Asia trade Monday, as investors locked in profits fromlast week’s rally that pushed the greenback to its highest level in 13 years.The dollar was at ¥125.51, compared with ¥125.64 late Friday in New York.
• FBM KLCI pared some of its loss at the midday break today while the ringgit fell to a nine-year low versus the US dollar. The ringgit dropped to a nine-year low versus the US dollar, weakening to as low as RM3.7630 against the US dollar, as the dollar strengthened on better US non-farm payrolls data.