Singaporer Stock Market Updates and Future Forecast

Market Review for STI: Shares traded in the negative territory, dragged down by declines on Wall Street overnight due to concerns of imminent US interest rate hikes on the horizon.The Dow Jones Industrial Average fell 1% to 18,041.54, the S&P 500 gave up 1% to 2,104.20 and the Nasdaq Composite shed 1.1% to 5,032.75.

STI Day Performance
Open: 3434.80
High: 3438.19
Low: 3412.52
Close: 3424.94
Change(Points): -35.4
% Change: -1.01%
Volume: 1610.5M
Rise: 159
Fall: 253
Unch: 948
Market forecast for STI: We may expect STI will touch 3400 then it will take rebound.
STRAITS TIME LEVELS
Support 1: 3400
Support 2: 3373
Support 3: 3356
Resistance 1: 3470
Resistance 2: 3521
Resistance 3: 3550
Technical Indicators: RSI is at 49 and CCI is at 2.
ECONOMIC FACTORS:

• Boustead Singapore reported a 30 per cent slide in net profit to S$17.9 million for the fourth quarter ended March 31, 2015, amid a challenging operating environment.
• Cortina Holdings posted a 28.5 per cent surge in its fiscal fourth-quarter net profit to S$6.7 million.
• EuroSports Global announced a net loss of S$4.02 million for the fiscal year ended March 31, 2015, compared to a net profit of S$17.02 million a year ago, dragged down by poorer gross margin, lower sales of new automobiles, a fall in the group's watch distribution and retail business, as well as higher expenses.
• CSC Holdings chalked up a net loss of S$9.03 million for the fourth quarter ended March 31, 2015, against a net profit of S$533,000 a year ago, due in part to impairment losses on plant and equipment. 
• Singapore's foreign maids exploited by agents, employer.
• Singapore O&G launches IPO for Catalist listing
• Keppel Corp unit buys remaining stake in Norwegian firm OWEC Tower.
• Dollar rallies to 8-year high on yen.
• Oil market dips on strong dollar.

SGX Share Market : STI Stock Picks & Technical Analysis Review

Market Review for STI:
share prices opened higher with the Straits Times Index up 2.65 points to 3,463.50. Singapore shares drifted between the positive and negative territory in a moribund trading session, due to a lack of fresh leads as US markets were closed overnight for the Memorial Day holiday.

STI Day Performance
Open	3463.92
High	3467.10
Low	3456.85
Close	3459.98
Change(Points)	-0.87
% Change	0.03%
Volume	1663.9M
Rise	198
Fall	239
Unch	919

Market forecast for STI:
We may expect STI will go down in next trading session.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3457	3352	3320	3475	3520	3550

Technical Indicators:
RSI is at 49 and CCI is at 2.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
st engineering.sg	3.42	1.48	ascendas reit.sg	0.43	-2.27
sph.sg	8.74	1.04	capitaland.sg	0.92	-1.08
singtel.sg	3.05	0.99	capitamall trust.sg	61.01	-0.83
sia.sg	4.19	0.48	citydev.sg	3.63	-0.82
sia engineering.sg	4.24	0.47	comfortdelgro.sg	0.665	-0.75

Important Factor for today:-

• Valuetronics Holdings posted a 0.9 per cent increase in net profit to HK$149.2 million (S$25.7 million) for its full year ended March 31, 2015.
• AVJennings has signed agreements to acquire the Waterline Place project in Williamstown, Victoria.
• Stamford Land Corp reported an 87.5 per cent surge in net profit to S$5.39 million for the fourth quarter ended March 31, 2015, as revenue was boosted by its property development segment.
• Jason Marine turned in a 39.8 per cent rise in net profit to S$3.89 million with help from higher net exchange gain.
• Fischer Tech reported a net profit of S$7.48 million for the financial year ended March 31, 2015, up 12.7 per cent year on year.
• DBS Bank as ramped up its commitment to Marina Bay, with a pledge of S$12 million over three years to further boost activities in the area.
• Singapore's GDP growth revised down to average 2-4% per year from now to 2020: MTI.
• Singapore's Q1 non-oil domestic exports up 4.8% from a year ago.
• Singapore's Q1 GDP growth better than expected at 2.6%.
• Brent trades near $65 with volumes lower amid public holidays.
• Gold struggles near US$1,200 on Yellen comments, robust dollar.