Weekly
wrap of STI:
STI opened higher for the week at 3306.56 and ended lower, dipped to the level of 3277 till the 3rd day of the week then took a bullish rebound and closed at 3315.67 for the week .The low for the week was marked at 3277.55 and high was marked at 3317.19. Asian markets were mixed Wednesday as Tokyo extended a rally after the dollar broke 116 yen for the first time in seven years, while speculation swirls that Japan may put off another unpopular sales tax hike. Singapore shares have succumbed to profit-taking after yesterday's gains on the back of a big rally in the Shanghai market. While Singapore shares opened higher in reaction to Wall Street's advance overnight, they seem to be struggling to hold on to their gains.
Straits Times Index inches up; eyes on China
data: The Straits Times Index was slightly higher, aided by gains in
SingTel, which reported stronger earnings.
STI opened higher for the week at 3306.56 and ended lower, dipped to the level of 3277 till the 3rd day of the week then took a bullish rebound and closed at 3315.67 for the week .The low for the week was marked at 3277.55 and high was marked at 3317.19. Asian markets were mixed Wednesday as Tokyo extended a rally after the dollar broke 116 yen for the first time in seven years, while speculation swirls that Japan may put off another unpopular sales tax hike. Singapore shares have succumbed to profit-taking after yesterday's gains on the back of a big rally in the Shanghai market. While Singapore shares opened higher in reaction to Wall Street's advance overnight, they seem to be struggling to hold on to their gains.
Straits Times Index inches up; eyes on China
data: The Straits Times Index was slightly higher, aided by gains in
SingTel, which reported stronger earnings.
STRAIT
TIMES WEEKLY WRAP
|
|
Open
|
3306.56 |
High
|
3317.19 |
Low
|
3277.55 |
Close
|
3315.67 |
Change(Points)
|
+29.28 |
% Change
|
+0.88% |
Market Forecast for week ahead:
Last week ended by
forming a doji which is indicating a bearish move and today it ended
forming a hammer pattern for the week. A bearish indication is seen
and may trade in the level from 3260-3360 for coming week.
STI LEVELS
|
|||||
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3260 | 3240 | 3220 | 3330 | 3340 | 3360 |
Technical Indicators:
RSI is indicating at 56 and CCI is at 23.
For More Assistance take a FREE TRIAL
RSI is indicating at 56 and CCI is at 23.
For More Assistance take a FREE TRIAL
Important Factor for today:-
- Vard reported a NOK37 million net loss in 3Q14, down 149% y/y and 126% q/q. EBIT margins were down to -3.8% from 4.8% in 2Q14 and 3% in 3Q13. 9M14 earnings came in at NOK196 million accounting for 72.6% of our FY14E estimate of NOK270 million.
- TECHNOLOGY and engineering firm Boustead Singapore reported a net profit of S$17.5 million for its second quarter ended Sept 30, 2014, up 94 per cent from S$9 million a year ago. Revenue increased 14 per cent to S$129.7 million, from S$113.3 million in the year-ago period.
- Standard & Poor's Ratings Services today placed its 'BB+' long-term corporate credit rating and 'axBBB+' long-term ASEAN regional scale ratings on STATS ChipPAC Ltd. on CreditWatch with negative implications. We also placed our 'BB+' long-term issue ratings on STATS ChipPAC's senior unsecured notes on CreditWatch with negative implications.
- Nam Cheong, Malaysia's largest offshore support vessel builder, reported 3Q14 earnings more than doubled to RM126.3 million ($49 million) from RM58.7 million a year ago on higher orders.
- Vard Holdings, the Norwegian designer and manufacturer of offshore support vessels (OSVs), sunk into losses of NOK 37 million ($7 million) in 3Q14 from earnings of NOK 76 million in the same period a year ago.
- Triyards Holdings is seeking to raise up to US$16.6 million ($21.4 million) by selling warrants to Ezion Holdings, which will end up as a substantial shareholder in the offshore-and-marine-focused engineering firm.
- Olam International's Fair-value losses on its biological assets which took a toll on bottom line in the September quarter. Earnings declined 2.9% y-o-y to $44.3 million as the commodity trader booked a $15.9-million loss on these assets, it said in a statement this morning. The company had a $3.3-million fair value gain in the same period last year. Revenue was flat at $4.3 billion during the quarter (1QFY2015), which is traditionally its weakest period due to seasonal factors.
Sector Allocation Chart
Sector
|
Volume
|
Values($)
|
Rises
|
Falls
|
Unchanged
|
Properties
|
129,638,000
|
182,271,754
|
28
|
24
|
29
|
Multi-Industry
|
24,797,000
|
134,936,887
|
4
|
5
|
9
|
Construction
|
56,348,000
|
7,027,795
|
5
|
16
|
20
|
Commerce
|
95,457,000
|
48,760,930
|
20
|
26
|
53
|
Hotels/Restaurants
|
1,437,000
|
1,326,910
|
5
|
3
|
9
|
Transport/Storage/Communications
|
75,514,470
|
160,317,726
|
16
|
14
|
18
|
Finance
|
15,344,200
|
155,037,211
|
13
|
11
|
23
|
Manufacturing
|
465,312,500
|
97,972,672
|
46
|
64
|
146
|
Services
|
524,756,580
|
181,712,207
|
43
|
44
|
67
|
Agriculture
|
80,899,000
|
38,649,732
|
1
|
4
|
4
|
Mining
|
36,211,000
|
8,127,103
|
3
|
5
|
5
|
Electricity/Gas/Water
|
1,780,000
|
926,130
|
1
|
0
|
1
|
Shares
in Foreign Currencies
|
8,975,560
|
32,544,692
|
6
|
23
|
122
|
Total
|
1,516,470,310
|
1,049,611,749
|
191
|
239
|
506
|
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