In this week STI opening was not good
First day closed by losing 42 points. Singapore shares retreated as
oil prices continued to plunge on fears of falling demand in the
midst of oversupply, marking a poor start to 2015's first full week
of trading. Second day STI gave a gap down opening. Singapore shares
remained weak as investor appetite across the region soured after
steep falls in oil prices overnight renewed concerns that global
growth might be more tepid than expected. Then came into correction
mode ,traders remained nervous after oil prices hit new
five-and-a-half-year lows and Greek political turmoil sent the euro
skidding. Last day of the week gave gap up opening with 21
points.
|
STRAIT TIMES WEEKLY WRAP |
|
|
OPEN |
3368.38 |
|
HIGH |
3372.34 |
|
LOW |
3267.89 |
|
CLOSE |
3338.44 |
|
CHANGE (In Points) |
-32.15 |
|
% CHANGE |
-0.96% |
Market Forecast for week ahead:
The trend of market is expected to be bullish for next week. STI
formed hammer on the top of the chart. Currently we have seen unusual
volatility in markets due to oil prices crisis and global economic
tensions. Asian shares climbed for a third straight day following
more advances on Wall Street, while bargain-buying helped oil recover
slightly from its latest sell-off. We may see bullish really in next
week trading session.
Technical Indicators: RSI is
above the centre line which is supporting the uptrend for the week at
55.32 and CCI is also supportive at the level of 48.37. Trading Signals
|
Support 1 |
Support 2 |
Support 3 |
Resistance 1 |
Resistance 2 |
Resistance 3 |
|
3313
|
3280
|
3260
|
3374
|
3409
|
3440
|
Macroeconomic factors:
- Singapore legal sector's guiding principle is to serve the people and it must also remain open to the region and the global community if it is to build a world-class legal infrastructure.
- China has freed prices of 24 commodities and services, removing all price controls on agricultural products, among other reforms.
- Demand for higher returns in Singapore bonds from the city's swelling private banking industry has brought with it greater risks.
- Singapore legal sector's guiding principle is to serve the people and it must also remain open to the region and the global community if it is to build a world-class legal infrastructure.
- The online classifieds joint venture is now established between Singapore Press Holdings, Norway's Schibsted Media Group and Telenor Group, and South Africa's Naspers.
- Singapore Shipping Corporation said it has managed to secure a US$16.5 million ($22 million) seven-year term loan financing facility with a leading Japanese financial institution.
- Oil prices were heading for a seventh weekly loss on Friday, with key producers showing no signs of cutting output in the face of a global supply glut.
- China’s consumer inflation rebounded marginally to 1.5 per cent year-on-year in December, the government said Friday, as slowing growth in the world’s second-largest economy keeps a lid on prices.
Sector Allocation Chart by VOLUME
|
Sector |
Volume |
Values($) |
Rises |
Falls |
Unchanged |
|
Properties |
140,187,950 |
216,273,670 |
28 |
22 |
36 |
|
Multi-Industry |
31,776,000 |
94,566,644 |
1 |
7 |
9 |
|
Construction |
45,630,000 |
5,333,810 |
11 |
6 |
24 |
|
Commerce |
78,111,000 |
37,784,848 |
20 |
16 |
63 |
|
Hotels/Restaurants |
1,437,000 |
786,911 |
4 |
2 |
11 |
|
Transport/Storage/Communications |
130,512,340 |
182,734,180 |
18 |
13 |
19 |
|
Finance |
34,645,400 |
300,250,347 |
14 |
10 |
22 |
|
Manufacturing |
298,795,600 |
139,300,552 |
36 |
54 |
166 |
|
Services |
479,315,820 |
133,599,249 |
33 |
48 |
76 |
|
Agriculture |
46,469,000 |
26,691,906 |
3 |
2 |
4 |
|
Mining |
22,654,000 |
6,179,907 |
5 |
2 |
6 |
|
Electricity/Gas/Water |
810,000 |
929,425 |
0 |
2 |
0 |
|
Shares in Foreign Currencies |
25,442,689 |
109,679,942 |
26 |
9 |
114 |
|
Total |
1,335,786,799 |
1,254,111,391 |
199 |
193 |
550 |
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