Singapore Stocks - STI Technical Review for 24 Feb

Market Review for STI: Share prices opened higher with the Straits Times Index up 6.93 points to 3,428.23. Shares were little changed as investors opted to wait for Federal Reserve head Janet Yellen's testimony before Congress tonight. While markets expect the Fed to raise interest rates this year, concerns are mounting that higher borrowing costs might put the US economy at risk at a time when central banks worldwide are easing policy to fight deflation and sluggish growth.

STI Day Performance
Open	3427.56
High	3437.61
Low	3415.91
Close	3437.61
Change(Points)	+16.31
% Change	+0.48%
Volume	1041.3M
Rise	211
Fall	176
Unch	398

Market forecast for STI: We may expect bullish rally of STI in next trading session.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3400	3380	3363	3450	3480	3500

Technical Indicators: RSI is at 55and CCI is at 87.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
COMFORTDELGRO.SG	3	3.81	GOLDEN AGRI-RES.SG	0.41	-2.38
SINGTEL.SG	4.28	2.88	NOBLE.SG	1.06	-2.3
ST ENGINEERING.SG	3.55	2.6	JMH USD.SG	64.39	-1.69
CAPITAMALL TRUST.SG	2.16	1.89	OLAM INTL.SG	2	-1.48
ASCENDAS REIT.SG	2.48	1.64	SIA ENGINEERING.SG	4.21	-1.41

Important Factor for today:-

• Singapore's budget this year focuses more on long-term measures to boost "the supply-side capacity of the economy" and lacks short-term measures to drive consumption, according to Credit Suisse.
• Lower administrative expenses and increased contributions from associates and joint ventures lifted SIIC Environment Holdings' 4Q2014 earnings to RMB65.9 million ($14.5 million) from RMB31.3 million a year earlier.
• A budget focused on building Singapore's future, was how Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam summed up his close to two-and-a-half-hour.
• Singapore shares remained subdued ahead of Federal Reserve Chair Janet Yellen's congressional testimony tonight.
• Singapore's budget is about strengthening the social safety net to help the silver generation and needy. It continues to attempt to create equal opportunities for Singaporeans.
• Proposed tax could encourage the further development of the reits market in Singapore, the incremental demand for office spaces by any new reit listings will be marginal in light of the large office supply.
• Oil prices dipped on worries about oversupply in North America, with Brent futures testing support around US$60 a barrel and US contracts hovering around US$50.50.

SGX: STI Techinccal Analysis Report 23 Feb

Market Review for STI: Share prices opened higher with the Straits Times Index up 16.94 points to 3,452.60. Shares held on to modest gains as investors awaited more developments in Europe, where Greece has until today to provide its creditors with a list of reform measures to secure financing. Trading activity was also subdued ahead of this afternoon's Singapore Budget announcement.

STI Day Performance
Open	3456.21
High	3458.14
Low	3421.30
Close	3421.30
Change(Points)	-14.36
% Change	-0.42%
Volume	1053.2M
Rise	201
Fall	196
Unch	390

Market forecast for STI: We may expect STI will move in the range of 3390 to 3350.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3385	3365	3340	3450	3480	3505

Technical Indicators: RSI is at 55and CCI is at 87.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
OLAM INTL.SG	2.03	1.5	SINGTEL.SG	4.16	-2.8
NOBLE.SG	1.085	1.4	HONGKONGLAND USD.SG	7.63	-2.3
DBS.SG	19.65	1.03	SIA.SG	12	-2.12
JARDINE C&C.SG	43.15	0.94	JMH USD.SG	65.5	-1.5
SGX.SG	8.31	0.73	THAIBEV.SG	0.7	-1.41

Important Factor for today:-

• The consumer price index in January was expected to fall 0.3 per cent from a year ago, according to the median forecast in a Reuter’s poll of economists. Core CPI was seen likely to rise 1.3 per cent year-on-year.
• Airlines (SIA) dropped a position this year and ranked 19th in Fortune magazine's annual list of the 50 most admired companies in the world.
• SINGAPORE inflation eased to -0.4 per cent in January from -0.1 per cent in December, mainly due to a sharp price declines of oil-related items as well as lower food and services inflation.
• Malaysian state fund 1MDB said on Monday that the refinancing of its debt will involve the finance ministry "as relevant and as required" after media reported that the government may inject up to RM3 billion (S$1.12 billion) into the fund.
• Oil rebounded in Asia on Monday as speculators hunted for bargains following a sharp decline last week, but analysts said prices remain weighed by an oversupply.
• Loan growth for the three Singapore banks is expected to be tepid this year, after having increased 5.8% in 2014 following four years of double-digit expansion.

SGX Singapore : Stock Market Technical Report 18 Feb

Market Review for STI: Share prices opened higher with the Straits Times Index up 19.57 points to 3,435.48.Asian stocks rose after US shares climbed to a record amid speculation Greece will reach a resolution with its creditors.
STI Day Performance
Open: 3428.71
High: 3443.50
Low: 3425.89
Close: 3435.66
Change(Points): +19.75
% Change: +0.58%
Volume: 633.6M
Rise: 210
Fall: 120
Unch: 457
Market forecast for STI: We may expect bullish trend in next trading session.

STRAITS TIME LEVELS
Support 1: 3385
Support 2: 3365
Support 3: 3345
Resistance 1: 3450
Resistance 2: 3480
Resistance 3: 3505
Technical Indicators: RSI is at 58and CCI is at 122.
Top  Losers: GOLDEN AGRI-RES, COMFORTDELGRO, OLAM INTL, WILMAR INTL, GLOBAL LOGISTIC
Top  Gainers: CAPITAMALL TRUST, GENTING SING, NOBLE, JARDINE C&C, ASCENDAS REIT
Important Factor for today:-

• Maybank Kim Eng has cut its 2015 GDP growth forecast for Singapore to 2.5% from 3%, saying the city-state is caught in a "tug of war between tailwinds and headwinds
• Malaysia's consumer price index in January rose 1 per cent from a year earlier, its smallest increase since November 2009, reflecting the drop in global oil prices.
• Oil fell for the first time in four days before US government data forecast to show crude inventories increased further last week from a record level.
• Shares in Neptune Orient Lines (NOL) climbed to a high of S$1.065 in today's early trading on the news that it plans to divest its logistics business and it has asked for a trading halt of its shares on the SGX on Tuesday afternoon.
• Sembcorp Industries' fourth quarter net profit grew 7.5 per cent to S$240.62 million, as the group recorded higher contribution from its utilities business in China and the UK.
• Shares in Noble Group gained 4.5 cents or 4.29 per cent to trade at S$1.095 on today morning after the commodity trading firm defended itself against allegations that it used aggressive accounting to mislead investors.

Stock Market Updates for STI Singapore for 17 Feb

Market Review for STI: Share prices opened lower with the Straits Times Index down 8.32 points to 3,418.84.Singapore shares were still mostly lower as investors stayed on the sidelines after an early selloff. With Greece and its creditors still nowhere near a deal to address its funding needs, and amid a shortened trading week for the local market, investors are likely to lie low for the rest of today's session.

STI Day Performance
Open: 3418.40
High: 3420.16
Low: 3409.03
Close: 3413.01
Change(Points): -14.15
% Change: 0.41%
Volume: 874.8M
Rise: 153
Fall: 212
Unch; 422
Market forecast for STI: Less volume in market because of Chinese New Year we may expect bearish trend in next trading session.
STRAITS TIME LEVELS
Support 1: 3380
Support 2: 3360
Support 3: 3340
Resistance 1: 3465
Resistance 2: 3485
Resistance 3: 3500
Technical Indicators: RSI is at 54 and CCI is at 13
Important Factor for today:-

• SINGAPORE'S overall labour productivity contracted by 1.5 per cent in the last quarter of 2014 - the third consecutive quarter of decline, and a worsening from Q3's 0.9 per cent contraction.
• NON-OIL domestic exports (NODX) grew 4.3 per cent year-on-year in January, the third straight monthly increase. The NODX rose 0.8 per cent in November and 2.3 per cent in December
• GFI Group defeated a Singapore lawsuit by a former broker who sued over a six-month non-compete clause that prevented her from moving immediately to a rival in a similar role.
• THE Singapore economy grew a better-than-expected 2.1 per cent year-on-year in the fourth quarter of 2014, the Ministry of Trade and Industry (MTI) said on Tuesday morning, as the manufacturing sector contracted less than initially anticipated.
• Higher revenue and fair-value gains on investment properties lifted CapitaLand's 4Q2014 earnings to $409.4 million from $142.6 million a year earlier.
• Logistics, commodity and engineering group CWT posted a 5 per cent gain in 2014 net profit as a margin squeeze in commodity marketing offset a jump in revenue.

SGX Singapore- Weekly Technical Analysis Outlook

 
 

Weekly wrap of STI: Starting if the week STI was bearish. Asian markets slipped as a strong US jobs report fuelled expectations the Federal Reserve will bring forward an interest rate rise. But more poor Chinese data lifted Shanghai on hopes of renewed easing measures. Official data released which showed China's exports falling more than 3% and imports declining almost 20% in January. Shares sank on heightened concerns over Greece's standoff with its creditors after talks in Brussels between the country's anti-austerity government and euro zone finance ministers failed to achieve any deal. STI opening and closing was not good. Profitable Trading Signals
STRAIT TIMES WEEKLY WRAP
OPEN: 3425.73
HIGH: 3448.96
LOW: 3409.38
CLOSE: 3426.22
CHANGE (In Points): -5.04
% CHANGE: -0.14%
Market Forecast for week ahead: We may expect bearish trend in next week. If STI crosses the level of 3450 then we may expect bullish trend. Oil prices rebounded more than US$1 towards US$56 a barrel on , after a two-day decline, as a weakened dollar and industry spending cuts offset worries of a supply glut.STI has also affected by oil price. Rebound in the oil price good for STI.
Weekly Technical view on STI
Support 1: 3360
Support 2: 3340
Support 3: 3325
Resistance 1: 3450
Resistance 2: 3475
Resistance 3: 3495
Technical Indicators: RSI and CCI both are indicating bullish trend RSI is at 61 and CCI is at 145.
Macroeconomic factors:

• SINGAPORE ranks 10th globally in the inaugural Sustainable Cities Index from Arcadis, a global natural and built asset design and consultancy firm, faring lower than other Asia-Pacific cities such as Hong Kong and Seoul. However, it proves to be greenest in the region, being the only country in Asia-Pacific to emerge in the top 10 of the Planet sub-index.
• Singapore Exchange Ltd, which has been struggling to attract large initial public offerings (IPOs), said it is expanding further into China and appointed its listings chief to a new position as the head of its China business.
• Iraq and Iran joined Saudi Arabia in cutting their March crude prices for Asia to the lowest level in more than a decade, signaling the battle for a share of OPEC's largest market is intensifying.
• THE Singapore Exchange (SGX) has issued a "trade with caution" note on UOL Group, which saw a substantial 6.4 per cent rise in its share price.
• Singapore billionnaire Peter Lim's Rowsley has teamed up with a developer in Vietnam to build and manage a US$550-million ($748-million) mixed development in Yangon, Myanmar, marking the Mainboard-listed company's first property deal outside Malaysia.
• Retail sales in Singapore rose 2.6 per cent in December compared with the previous year but only because sales of cars and other vehicles jumped 41 per cent in the month.
• Singapore's Sembcorp Marine Ltd its net profit in the fourth quarter fell 4.6 per cent, as revenue from rig building activity dropped and as the year-ago quarter was boosted by a tax write-back.
• MEDICAL devices company Biosensors International posted a 33 per cent fall in net profit to US$7.44 million for the third quarter of its fiscal year 2015.
• Singapore's non-oil domestic exports in January likely grew from a year earlier but at a slower pace than the previous month, as the city-state continued to suffer from a sluggish global economy.