Market Review for STI: Singapore shares are likely
to head higher on the back of Wall Street's rally last Friday fuelled by
a positive April US payrolls report.
The US unemployment rate fell to
5.4%, the lowest since May 2008.China's decision on Sunday to cut
interest rates - the third reduction in six months - to support the
world's second-largest economy is also expected to underpin investor
sentiment. The Dow Jones Industrial Average rose 1.5% to 18,191.11, the
S&P 500 climbed 1.4% to 2,116.10 and the Nasdaq Composite gained
1.2% to 5,003.55.
Market forecast for STI: STI has taken rebound we may expect bullish trend in STI.
Technical Indicators: RSI is at 49 and CCI is at -74.
ECONOMIC FACTORS:
Technical Indicators: RSI is at 49 and CCI is at -74.
ECONOMIC FACTORS:
- Asian stocks rise after China rate cut, US payrolls.
- Vallianz's Q1 profit rises 5% to US$4.97m.
- Crude-oil bulls threatened as shale patch revives drilling plans.
- Dollar suffers as reflation trade transforms losers into winners.
- Asian bankers face US$43b dead deals after oil plunge.
- Nuclear power generation in Japan will cost 10.3 yen per kilowatt hour or more by 2030, the cheapest among various power sources.
- Asia-Pacific Strategic Investments has offered to acquire Century 21 Hong Kong in a deal worth $1 million.
- The US$5.3-trillion-a-day foreign-exchange market has a new buzzword: reflation. "This could bode for a weaker US dollar across the board."
- Saudi Arabia opening its US$568 billion stock exchange to foreigners.
- Nuclear power generation in Japan will cost 10.3 yen per kilowatt hour or more by 2030, the cheapest among various power sources.
- Asia-Pacific Strategic Investments has offered to acquire Century 21 Hong Kong in a deal worth $1 million.
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