Singapore Stock Market Review & STI Technical Outlook: 31 Dec

Share prices opened flat with the Straits Times Index down 0.35 points to 3,365.76.Oil Falls in Worst Year Since 2008 as Asian Stocks Gain. US crude touched a low of US$53.55 a barrel in early Asian trade, remaining near 5-1/2-year lows, hit by concern over surplus supply as the United States decided to permit more oil exports and on an unexpected build-up in U.S. crude inventory last week.

High of the day was marked at 3373.080 and low was 3364.640

STI Day Performance

Open: 3366.99

High: 3373.08

Low: 3364.64

Close: 3365.15

Change (in Points): -0.960

%Change: -0.03%

Volume: 580.3M

Rise: 175

Fall: 125

Unch: 897

Market forecast for STI: Singapore's Stock Exchange Looks to Make Trading More Attractive for Individuals.SGX is looking to individual investors to boost Southeast Asia’s biggest stock market after trading volume this year tumbled the most since the 2008 global financial crisis. STI will be positive for next year.

Technical Indicators: RSI is at 61 and CCI is at 132.

STRAITS TIME LEVELS

Support 1: 3340

Support 2: 3320

Support 3: 3300

Resistance 1: 3420

Resistance 2: 3440

Resistance 3: 3460

Macroeconomic factors:

• Singapore's economy grew 2.8 per cent in 2014, but the "moderately well" performance was dimmed by a "disappointing" minus 0.5 per cent productivity growth in the first three quarters of the year.
• The Singapore Exchange (SGX) has reprimanded New Lakeside Holdings, which has been renamed Zhongxin Fruit & Juice since Mar 2013, its former director and former group chief financial officer (CFO) for breaching listing rules and corporate governance failures.
• On a year-on-year basis, Singapore's manufacturing output contracted 2.8% in November 2014. Excluding biomedical manufacturing, output declined 3.1%. On a seasonally adjusted month-on-month basis, manufacturing output fell 1.4% in November 2014. Excluding biomedical manufacturing, output increased 1.6%.
• Wealthy investors are poised to put at least US$90 billion into hedge funds next year, even after returns have largely been lackluster this year.
• Bank lending rose 0.6 per cent in November, following two straight months of no growth, data from the Monetary Authority of Singapore showed.
• Total bank lending in Singapore increased in November from the previous month, on the back of more loans to housing, building and construction as well as the business.
• China developer Ying Li International Real Estate and China Everbright has teamed up to invest in a mixed-use development project in Beijing's Tongzhou District, China.

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Singapore Stock Market Review for STI 30 Dec

Share prices opened flat with the Straits Times Index up 0.72 points to 3370.77. Asian shares got off to a lacklustre start, as a sharp sell off in commodities and political uncertainty in Greece made investors less willing to take risks in the final trading days of 2014.

High of the day was 3373.93 and low was 3359.29. 

STI Day Performance 

Open: 3370.77 

High: 3373.93 

Low: 3359.29 

Close: 3366.11 

Change (in Points): -1.58 

%Change: -0.5  

Volume: 924.8M 

Rise: 181 

Fall: 174 

Unch: 434 

Market forecast for STI: Asian stocks are falling down as oil hits risk sentiment, from last three days STI was in bullish so now it is in correction mode. We may expect STI will be in consolidation face. 

Technical Indicators: RSI is at 59 and CCI is at 115. 

STRAITS TIME LEVELS

Support 1: 3340 

Support 2: 3330 

Support 3: 3320 

Resistance 1: 3360 

Resistance 2: 3370 

Resistance 3: 3380 

Macroeconomic factors: 

• Net demand for office space in Singapore in 2014 was slightly lower at 1.36 million square feet in 2014, as compared to 1.45 million sq ft for 2013.
• A second ex-president of Singapore Technologies Marine Ltd (ST Marine) has been charged in court, in a corruption scandal that has implicated six of its former high level executives.
• SBI Offshore has bagged a procurement contract for drilling equipment systems of a semi-submersible offshore rig to be built in China.
• Oil prices have halved this year, dragging on firms involved in Asian energy projects as costs remain high amid dwindling revenues, yet equity analysts continue to have a largely positive industry outlook.
• Gross domestic product was seen expanding 2.0 per cent in the fourth quarter from a year earlier, moderating from 2.8 per cent year-on-year growth in the third quarter, according to the median forecast in the poll of 12 economists.DBS Group
• Holdings made a clean sweep of all three Singapore awards at the recent IFR Asia Awards 2014.

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Singapore Stock Market Review 29th Dec

Market Review for STI:

Share prices opened higher with the Straits Times Index up 6.43 points to 3,360.11.Asian markets mostly rose the first full day of trade after the Christmas break, with confidence boosted by Chinese easing measures and another Wall Street record and Oil prices rose , after dropping for the past two sessions, as escalating clashes in Libya stoked worries about supply from the OPEC member.

High of the day was 3,367.710 and low 3,356.620.

STI Day Performance

Open: 3293.72

High: 3367.71

Low: 3356.62

Close: 3367.69

Change (in Points): +14.01

%Change: +0.42%

Volume: 873.3M

Rise: 201

Fall: 164

Unch: 832

Market forecast for STI:

STI crossed its major resistance we may expect bullish trend in next trading session.

Technical Indicators:

RSI is at 61 and CCI is at 122.

STRAITS TIME LEVELS

Support 1: 3350

Support 2: 3340

Support 3: 3330

Resistance 1: 3375

Resistance 2: 3385

Resistance 3: 3395

Macroeconomic factors:

• SGX said it will upgrade its derivatives trading and clearing platforms.The upgraded platforms, SGX TITAN, will strengthen SGX's risk controls and system safeguards to help market participants manage their trading and clearing positions on a 24-hour basis, SGX said. They are expected to be rolled out around the end of calendar year 2016.
• Price of completed non-landed private homes in Singapore dipped 0.3 per cent in November over October based on flash estimates from the National University of Singapore for its Overall Singapore Residential Price Index (SRPI) .
• Singapore's JTC Corporation has launched a site at Tuas South Street 7 (Plot 53) for sale by public tender under the second half 2014 Industrial Government Land Sales (IGLS) Program. 
• Small medium enterprises (SMEs) in Singapore are citing a lower growth momentum and a more conservative outlook for the first-half of 2015.
• HITACHI Ltd plans to acquire Singapore engineering company Aqua Works and Engineering Pte Ltd, which specializes in water related installations for commercial facilities, public spaces and residential properties in Singapore. The purchase price was not disclosed. Aqua Works made sales of S$9.07 million in fiscal 2013.
• Sheng Siong Group has signed a conditional joint-venture (JV) agreement with Kunming LuChen Group Co Ltd to operate supermarkets in China.
• As online shopping booms, M1 and Rakuten Singapore are pairing up in a deal that is the first of its kind between the Japanese e-commerce firm and a local company.

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Singapore Stock Market Review & Technical Analysis 22 Dec

Market Review for STI:

Share prices opened higher with the Straits Times Index up 19.37 points to 3,298.90.Oil prices rose in early trading as Asian markets opened strongly into a holiday-shortened week and as consensus spread that Brent crude prices would likely remain above US$60 for the rest of the year. High for the day was marked at 3328.35 and low at 3291.49.

STI Day Performance

Open: 3293.72  

High: 3330.96  

Low: 3291.49  

Close: 3330.96

Change (in Points): +51.43  

%Change: +1.57%  

Volume: 1459.5M

Rise: 259  

Fall: 114  

Unch: 822

Market forecast for STI:

STI gave good opening, we may see bullish rally in next trading session.

Technical Indicators:

RSI is at 55and CCI is at 44.

STRAITS TIME LEVELS

Support 1: 3280  

Support 2: 3270  

Support 3: 3260

Resistance 1: 3340  

Resistance 2: 3350 

Resistance 3: 3360

Macroeconomic factors:

• Singapore's headline inflation rate in November may turn negative for the first time in five years due partly to sliding oil prices, and a few economists see scope for the central bank to ease tight monetary policy to support economic growth.
• THE Singapore government is proposing new policies to enhance credit co-operatives' (credit co-ops) financial prudence, governance, and management capabilities, with changes targeted for full implementation by 2018.
• China is willing to help Russia if needed but believes that the country has the ability to overcome its current economic problems
• Canon has become the latest founding partner and official printing & imaging partner of the Singapore Sports Hub, following its signing of a three-year agreement.
• Jason Holdings on Monday said that its chief executive officer will fully indemnify the group's wholly-owned subsidiary, Jason Parquet Specialist (Singapore) (JPSS), against all legal costs and damages that may arise out of a S$1.23 million suit.
• Capitagreen has obtained its Temporary Occupation Permit (TOP) on Dec 18, and has secured leases for 50.4 per cent (352,800 square feet) of its net lettable area as at December.

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Weekly Technical view on STI: 15-19 Dec

Weekly wrap of STI:

STI gave a gap down opening for the week by losing 16.7 points to 3312.48. 2nd day of week STI broke its record it was 70 point downs .Then gave good opening and filled its previous gap at 3201. Oil prices sank further to new multi-year lows; sinks deeper to 7-year lows in Asian trade, Crude prices have plunged roughly 50 per cent since June, weighed down by plentiful supplies, the stronger dollar and weak demand arising from the struggling global economy. Federal Reserve indicated interest rates would not be hiked until the middle of next year. Wall Street has best 2-day gain since 2011 on Fed optimism about the US economy. Equities rally followed the Fed's upbeat assessment of the U.S. economy on Wednesday and a commitment to take a patient approach toward raising interest rates. Closing for the week was observed at 3279.53 .With a change of points. See Our Signals

Strait Times Weekly Wrap

Open: 3312.48  

High: 3314.3  

Low: 3200.63  

Close: 3279.53

Change (in Points): -44.6 

 %Change: -1.35%

Market Forecast for week ahead:

The trend of market is expected to be bearish for next week. Currently we have seen unusual volatility in markets due to oil prices crisis and global economic tensions. But the Federal Reserve has decided that not to raise interest rate so it may be good for all Asian market. We may see bullish really in next week trading session. STI may trade in the range of 3220-3300.

Technical Indicators:

RSI is above the centre line which is supporting the bearish trend for the week at 49.23 and CCI is also supportive and at the level of 51.3.

Weekly Technical view on STI

Support 1: 3240  

Support 2: 3220  

Support 3: 3200

Resistance 1: 3340  

Resistance 2: 3360  

Resistance 3: 3385

Macroeconomic factors:

• Singapore’s non-oil domestic exports probably grew in November from a year earlier, when sales of pharmaceuticals were poor, with the comparison against a low base helping shipments recover from October's contraction.
• Lower oil price could boost demand in Asia in 2015, with spot interest for diesel, Asia's most widely used fuel, picking up in countries like Vietnam, Philippines and Indonesia.
• Asian stocks rose before a Federal Reserve policy decision as gains in energy and utility shares
• A subsidiary of The Straits Trading Company is proposing to acquire a retail development known as Times Midtown in Chongqing, China for approximately 668.4 million yuan (S$141.65 million).
• Japan's exports rose 4.9 per cent in November from a year earlier, Ministry of Finance data showed on Wednesday, rising for a third straight month in a sign of a gradual pick-up in global demand .
• Singapore's non-oil domestic exports (NODX) grew 1.6 per cent in November from a year earlier, as a jump in pharmaceuticals exports outweighed the fall in electronic shipments, figures by trade agency IE Singapore showed on Wednesday.
• Market cap of 23 Offshore Marine firms falls 15.7% in a month amid oil rout .Offshore support services firms listed in Singapore have seen their returns decline by more than one-tenth over the year, in line with falling oil prices, with some of the larger companies among these losing more than half of their returns during the same period.
• Singapore’s listed companies may miss critical timelines in adhering to the country's Code of Corporate Governance, particularly in the area of board independence, at the current rate of progress.

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Singapore Stock Market Trading Signals 18th Dec

Market Review for STI:
Shares opened higher with the Straits Times Index at 3,240.51 in early trade, up 0.41 per cent, or 13.28 points. Oil prices edged higher in Asia after data showed US stockpiles dipping, while the Federal Reserve indicated interest rates would not be hiked until the middle of next year. Currently Federal Reserve is not increasing rate so it’s good indication for stock market.

STI Day Performance
Open	3247.06
High	3252.01
Low	3227.52
Close	3243.65
Change(Points)	+16.42
% Change	+0.0.51%
Volume	1145.6M
Rise	196
Fall	156
Unch	843

Market forecast for STI:
Trend is still in correcting mode. Tomorrow opening will decide the trend of market.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3230	3220	3210	3260	3270	3280

Technical Indicators:
RSI is at 40 and CCI is at -180.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
GOLDEN AGRI-RES.SG	0.44	3.53	GLOBAL LOGISTIC.SG	2.41	-3.21
OLAM INTL.SG	2.04	3.03	THAIBEV.SG	0.68	-2.16
JSH USD.SG	33.65	2.87	NOBLE.SG	1.04	-1.89
KEPPEL CORP.SG	8.44	2.68	COMFORTDELGRO.SG	2.47	-1.59
DBS.SG	19.53	2.36	SEMBCORP MARINE.SG	3.12	-1.27

Important Factor for today:-

• Economists at Wall Street's biggest banks remain convinced the Federal Reserve will raise interest rates by next June and most expect the Fed to tighten policy more than once in 2015, a Reuters poll found after the U.S. central bank wrapped up a policy meeting on Wednesday .
• EU leaders on Thursday will discuss tense relations with Russia and punishing sanctions imposed over Moscow's actions in Ukraine at a summit led for the first time by Poland's Kremlin-wary former premier Donald Tusk.
• Mainboard-listed Silverlake Axis (Silverlake) on Thursday revealed that it has formed a company, Silverlake HGH, to launch a takeover offer for Finzsoft Solutions - an Auckland-based financial technology company that develops and implements software and solutions for banks and financial institutions in New Zealand and Australia - at a price of NZ$3 per share.
• Olam's US$1.3 billion deal to buy rival Archer Daniels Midland's cocoa processing business may reduce liquidity in the niche cocoa bean trade, raising concerns about volatile prices and a potential shake-up of customer relationships.
• Global Tech (Holdings) incurred a loss of HK$15.99 million (S$2.7 million) for the financial year ended Sept 30, 2014, compared to a net profit of HK$12.88 million made last year.

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STI Technical Analysis : Singapore Stock Market 17th Dec

Market Review for STI:

Share prices opened lower at 3220.13.Asian markets edged up on Wednesday on bargain-hunting, although gains were limited following more losses on Wall Street, while investors await the outcome of a Federal Reserve policy meet. Marked ended with a bullishness at the level of 3227.23.

STI Day Performance
Open	3220.13
High	3232.64
Low	3200.63
Close	3227.23
Change(Points)	+12.14
% Change	+0.38%
Volume	1208.5M
Rise	174
Fall	192
Unch	829

Market forecast for STI:
It may be expected that STI will take little correction from previous down trend.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3210	3200	3190	3240	3250	3260

Technical Indicators:
RSI is at 36 and CCI is at 302.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
SEMBCORP MARINE.SG	3.16	9.34	GOLDEN AGRI-RES.SG	0.425	-4.49
KEPPEL CORP.SG	8.22	3.01	SIA.SG	11.31	-2.42
SGX.SG	7.54	2.03	CAPITALAND.SG	3.1	-1.27
OLAM INTL.SG	1.98	1.54	SIA ENGINEERING.SG	3.92	-1.01
SEMBCORP IND.SG	4.16	1.46	WILMAR INTL.SG	3.11	-0.64

Important Factor for today:-

• Singapore's non-oil domestic exports (NODX) grew 1.6 per cent in November from a year earlier, as a jump in pharmaceuticals exports outweighed the fall in electronic shipments, figures by trade agency IE Singapore showed on Wednesday.
• Market cap of 23 Offshore Marine firms falls 15.7% in a month amid oil rout .Offshore support services firms listed in Singapore have seen their returns decline by more than one-tenth over the year, in line with falling oil prices, with some of the larger companies among these losing more than half of their returns during the same period.
• Buoyed perhaps by their year-end bonuses and the holiday season, Singapore consumers ended 2014 slightly more optimistic about their finances and the economy
• Asian markets edged up on Wednesday on bargain-hunting, although gains were limited following more losses on Wall Street, while investors await the outcome of a Federal Reserve policy meeting.
• Supplies of western-origin fuel oil into Asia in January could hit its highest in nine months, as multi-year low crude prices fuel higher production of oil products in Europe and the America.
• The Competition Commission of Singapore (CCS) is seeking feedback on the proposed joint venture between the Boeing Company and SIA Engineering Company in Singapore.

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