WEEKLY WRAP OF STI
Straits Times Index (STI) opened at
3114.56 and ended -4.40 points or 4.40% lower to 2971.01 this week.
STI came off from its weekly peak of 3116.36 and low of 2948.14.
| STRAIT TIMES WEEKLY WRAP | |
| OPEN | 3114.56 |
| HIGH | 3116.36 |
| LOW | 2948.14 |
| CLOSE | 2971.01 |
| CHANGE (In Points) | -137.15 |
| % CHANGE | -4.40 |
Banks, properties and oil and gas heavy
weights hit at the moment which are dragging the index lower.
This week has’nt been good for the
local stock market, with the Straits Times Index (STI) dropping five
days. Volume has been thin in the market. For the week, the STI lost
about four points.
Singapore Exchange is proposing the
introduction of an Affiliate Segregation rule, whereby the collateral
of an affiliate of an SGX Derivatives Clearing (SGX-DC) member is
protected if the member defaults on its own contracts.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 2948 | 2882 | 2794 | 3115 | 3215 | 3281 |
LOCAL BOURSE
Local banks' loan growth is likely to
subdued remain in coming quarters, though the lenders may benefiit
from higher net interest margins with the imminent rise of interest
rates, Fitch Group's BMI Research says in a report released on
Friday.
Singapore is likely to remain stuck in
the grip of deflation when the Consumer Price Index (CPI) for July is
released next week.
Singapore-based online retailer RedMart
has raised US$26.7 million ($37.5 million) in funding from investors,
including Garena, Facebook co-founder Eduardo Saverin and SoftBank
Ventures Korea.
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