China’s stocks rose to its biggest gain in a week
as renewed economic optimism showed that new equity sales will divert
from existing shares. China’s manufacturing Purchasing Manager’s Index
from HSBC Holdings Plc and Markit Economics rose to 50.8. Singapore has
expanded economic co-operation with Russia. Besides, Singapore’s
increased inflation rate by 2.7% may boost share prices.
| STI Day Performance | |
| Open | 3258.28 |
| High | 3269.17 |
| Low | 3256.17 |
| Close | 3262.03 |
| Change(Points) | 4.630 |
| % Change | 0.14% |
| Volume | 1592.5M |
| Rise | 231 |
| Fall | 168 |
| Unch | 693 |
Market forecast for STI:
After moving down over last week, Singapore Share prices opened near previous close with STI up 0.88 points to 3258.280. It formed an inverted hammer pattern for the day by making high at 3269.170. The whole day range was 12.67 points by making low at 3256.500 and closed at 3262.030. Green candlestick pattern showed that buyer’s sentiments dominated sellers. A bullish reversal is anticipated as it covered prices range under rounded top pattern for more than a month and inflation in Singapore may put further trajectory.
Technical indicators:
RSI stood below the centre line at 46.484 with its CCI at-125.18. Difference line of MACD performed at 5.189 which lied below its signal line which performed at 8.386.
After moving down over last week, Singapore Share prices opened near previous close with STI up 0.88 points to 3258.280. It formed an inverted hammer pattern for the day by making high at 3269.170. The whole day range was 12.67 points by making low at 3256.500 and closed at 3262.030. Green candlestick pattern showed that buyer’s sentiments dominated sellers. A bullish reversal is anticipated as it covered prices range under rounded top pattern for more than a month and inflation in Singapore may put further trajectory.
Technical indicators:
RSI stood below the centre line at 46.484 with its CCI at-125.18. Difference line of MACD performed at 5.189 which lied below its signal line which performed at 8.386.
| STI LEVELS | |
| Support 1 | 3246 |
| Support 2 | 3236 |
| Support 3 | 3221 |
| Resistance 1 | 3279 |
| Resistance 2 | 3289 |
| Resistance 3 | 3304 |
Important Factor for today:-
- Yoma Strategic Holdings has received an acquisition offer of 70% of land in Pun Hlaing Golf Estate (PHGE).
- R H Energy is under the reverse takeover by Chiway Land Group to get listing on SGX.
- Olam International reported a partnership with Mitsubishi Corporation of Japan (MC) to grow its Australian grains business for the investment of US$80 million to take an 80% equity stake in Olam’s wholly-owned subsidiary, Olam Grains Australia (OGA).
- Nam Cheong sold two accommodation work barges worth US$84 million to repeat customer Perdana Petroleum BHD.
- Singapore’s inflation rose to 2.7% in May.
| Top Gainers | Top Losers | ||||
| Scrip Name | CMP | %change | Scrip Name | CMP | %change |
| ComfortDelGro | 2.5 | 2.88 | HongkongLand USD | 6.58 | -1.05 |
| SIA Engineering | 5.09 | 1.6 | Ascendas Reit | 2.27 | -0.87 |
| CityDev | 10.35 | 1.07 | HPH Trust USD | 0.715 | -0.69 |
| Golden Agri-Res | 0.565 | 0.89 | Olam Intl | 2.44 | -0.41 |
| SingTel | 3.83 | 0.79 | Global Logistic | 2.66 | -0.38 |
Malaysian Share prices opened slightly higher with KLCI up 0.34 points to 1884.300 by strengthening Ringgit against US dollar on sustained demand in local market. KLCI made low of 1882.330 and a high same as its close at 1892.330. Market moved between the ranges of almost 10.19 points.
| KLCI Day Performance | |
| Open | 1884.30 |
| High | 1892.33 |
| Low | 1882.14 |
| Close | 1892.33 |
| Change(Points) | 8.370 |
| % Change | 0.44% |
| Volume | 2007.7m |
| Rise | 451 |
| Fall | 396 |
| Unch | 1362 |
Market forecast for KLCI:
Share prices movement formed a rounded bottom pattern for the last week and today’s candlestick formed a large green candle showing buyers sentiments were aggressive over sellers.
Share prices movement formed a rounded bottom pattern for the last week and today’s candlestick formed a large green candle showing buyers sentiments were aggressive over sellers.
| KLCI LEVELS | |
| Support 1 | 1872 |
| Support 2 | 1862 |
| Support 3 | 1847 |
| Resistance 1 | 1902 |
| Resistance 2 | 1912 |
| Resistance 3 | 1927 |
Technical indicators:
RSI stood below the centre line at 64.504 with its CCI at 203.504. Difference line of MACD performed at 4.759 which lied above its signal line which performed at 3.193.
RSI stood below the centre line at 64.504 with its CCI at 203.504. Difference line of MACD performed at 4.759 which lied above its signal line which performed at 3.193.
| Top Gainers | Top Losers | ||||
| Scrip Name | CMP | %change | Scrip Name | CMP | %change |
| YTL | 1.6 | 3.23 | GENM | 4.23 | -0.24 |
| ASTRO | 3.56 | 2.3 | SKPETRO | 4.41 | -0.23 |
| TENAGA | 12.06 | 1.86 | GENTING | 10.06 | -0.2 |
| PETGAS | 24.7 | 1.65 | PBBANK | 20.14 | -0.2 |
| FGV | 4.41 | 1.38 | PETDAG | 24.18 | 0.08 |
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