Weekly wrap of STI:
Singapore stocks clawed back some of
their losses from previous day, helped by a rebound in Japan, where
investors are expecting Prime Minister Shinzo Abe to call for snap
elections and announce a stimulus package for the economy, which
slipped into recession in 3Q2014. Gains by the three local banks
helped the Straits Times Index end in positive territory, even as
most other Asian stock indexes pulled back. The STI rose 0.6% to
3,334.56. Singapore's Straits Times Index fell on Monday after
non-oil export data set a negative tone to the days trading. The
index closes 0.8% lower at 3,288.67, retreating from its highest
level since mid-September. About 1.23 billion shares, valued at $1.03
billion, were traded. Interest in Singapore shares remains subdued as
investors mull concerns of lower inflation expressed by the US
Federal Reserve and data showing a slowdown in China's manufacturing
sector in November. Singapore shares ended the morning session mostly
higher, with banks among the key gainers. Live Signals
STRAIT
TIMES WEEKLY WRAP
|
|
| Open | 3310.53 |
| High | 3347.42 |
| Low | 3285.6 |
| Close | 3345.32 |
| Change (Points) | 29.65 |
| % Change | +0.88% |
Market Forecast for week ahead:
STI is bullish from last six weeks and
we may expect a correction next week. It may take support at the
level of 3350 and can be bearish.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3330 | 3300 | 3280 | 3350 | 3370 | 3380 |
Technical Indicators:
RSI is above the centre line and is at
59.80 CCI is at the level of 61.40
Macroeconomic factors:
- SINGAPORE'S domestic wholesale trade dropped 5.7 per cent in the third quarter of 2014 compared to a year ago, the Department of Statistics said on Thursday.The fall was largely due to the general wholesale trade industry, which recorded the largest decrease .
- SINGAPORE is ranked only 16th in the world when it comes to talent competitiveness, due to its imbalance in optimising homegrown talent and attracting those from overseas.
- The newly launched trading link between Shanghai and Hong Kong is a "positive catalyst" for the Singapore Exchange and could account for almost 9% of its FY2015 revenue, says Deutsche Bank.
- STI market appears fully priced at 13.5 times forward earnings, close to one standard deviation above its seven-year average, said brokerage Maybank Kim Eng Research in a recent report.
- The brokerage is "neutral" on the Singapore market with a 3,440-point Straits Times Index (STI) target in 2015, about 4 per cent higher from current levels.
- THE Singapore Exchange (SGX) is launching five new petrochemical derivatives products in the next two months.
- SINGAPORE has dropped six places when compared to its 2005 ranking in IMD's new annual World Talent Report, and is now in 16th place. It was ranked 17th last year. The ranking assesses a country's ability to develop, attract, and retain talent for companies that operate there.
- Singapore's annual core inflation and headline consumer inflation in October probably held level against September, a seven-month low, a Reuters poll showed.
- TELCO giants SingTel and Huawei are working together on the next generation of mobile broadband technologies.
- ST Engineering has appointed several new senior management personnel to shore up its leadership team.
- Gains in banks and SingTel drove the Straits Times Index higher in early trading.Since the recent release of their 3Q2014 results, which beat market expectations, DBS, OCBC and UOB have been widely recommended by analysts.
Sector Allocation Chart by Turnover
| Sector | Volume | Values($) | Rises | Falls | Unchanged |
| Properties | 116,093,000 | 190,492,691 | 39 | 11 | 31 |
| Multi-Industry | 22,570,000 | 81,538,259 | 9 | 5 | 4 |
| Construction | 30,615,000 | 5,613,587 | 10 | 16 | 15 |
| Commerce | 89,836,831 | 46,341,462 | 24 | 21 | 56 |
| Hotels/Restaurants | 3,670,000 | 2,931,695 | 2 | 4 | 11 |
| Transport/Storage/Communications | 70,613,580 | 152,518,434 | 24 | 6 | 18 |
| Finance | 21,151,000 | 204,302,824 | 13 | 8 | 26 |
| Manufacturing | 187,621,650 | 115,287,948 | 67 | 34 | 154 |
| Services | 436,094,600 | 159,727,549 | 52 | 31 | 73 |
| Agriculture | 93,300,000 | 46,247,494 | 4 | 1 | 4 |
| Mining | 56,322,000 | 16,445,811 | 7 | 2 | 4 |
| Electricity/Gas/Water | 2,247,000 | 1,273,610 | 0 | 1 | 1 |
| Shares in Foreign Currencies | 27,768,510 | 66,722,163 | 17 | 11 | 123 |
| Total | 1,157,903,171 | 1,089,443,527 | 268 | 151 | 520 |
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