SGX Singapore Daily Technical Analysis Summary 25 Sept

Market Review for STI:
Singapore shares fell down 1.82 points to close at 3,290.99. Asian shares are not stable and the market depends on the real time data which are not in favour of the stocks. The high of the day was marked at 3303.16 and the low of the day was marked at 3284.20.

STI Day Performance
Open	3301.69
High	3303.16
Low	3284.20
Close	3290.99
Change(Points)	-1.82
% Change	-0.06%
Volume	1234.3M
Rise	179
Fall	195
Unch	755

Market forecast for STI:
As the market is moving sideways we cannot expect a clear trend either bullish or bearish. It will depend on the opening on next trading session and also the economic factors affecting it.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3253.86	3222.59	3180.00	3308.55	3340.35	3370.00

Technical Indicators:
RSI is at 41.25 and CCI is at 94.15

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
SEMBCORP MARINE.SG	3.78	1.61	OLAM INTL.SG	2.42	-1.22
NOBLE.SG	1.39	1.46	ST ENGINEERING.SG	3.66	-0.81
HONGKONGLAND USD.SG	7	1.16	CAPITAMALL TRUST.SG	1.905	-0.78
GOLDEN AGRI-RES.SG	0.51	0.99	KEPPEL CORP.SG	10.48	-0.76
GENTING SING.SG	1.14	0.88	CITYDEV.SG	9.59	-0.72

Important Factor for today:-

• Singapore eDevelopment is planning to issue listed and secured perpetual bonds of up to $300 million with an 8% annual coupon and a share of annual profits of property development projects to be funded, as well as a 100-to-one consolidation of its shares, to accelerate its strategy for corporate recovery.
• With a moneylender's license in hand, ValueMax can now officially accept a wider range of collateral, especially properties. This business segment may be a new growth driver, with high margins of about +70%. We expect ValueMax to add about SGD25m in loans for this segment from now until FY15 - which would boost our FY15F NPAT by 17% to SGD16.7m.
• ISOTeam's FY14 PATMI of SGD6.1m beat our earnings estimates by 43%, representing c.100% y-o-y growth (excluding one-off disposal gains in FY13). Growth outlook remains strong as R&R and A&A segment growth may be driven by government initiatives to rejuvenate mature housing estates and refurbish schools. We raise PATMI estimates for FY15F/16F by 33%/43%. Maintain BUY with raised DCFbased TP of SGD0.77.
• OSIM's results were mostly in line with our expectations. 2Q14 was a slightly softer quarter due to the challenging retail conditions in South Asia, in our view. Nonetheless, its net profit of SGD29.5m still marked a record quarter, and is a testament to the company'sgrowing all-round strength. We are excited about the company's plans for the rest of the year and maintain BUY, with our TP still at SGD3.85.
• AusNet Services is facing two new class actions in relation to bushfires that occurred in February 2014 in Yarram and Mickleham.
• Wilmar International said on Thursday that the Australian Competition and Consumer Commission (ACCC) will not oppose plans by the company and First Pacific to buy Goodman Fielder for S$1.7 billion.
• Singapore mutual fund investors want a stream of income from their investments and have a stronger home bias than regional investors. These were the main takeaways from an online survey of 300 investors here, commissioned by Prudential's Asia asset management arm East spring Investments.

STI Technical Analysis Outlook 22 Sept

Market Review for STI:
STI opened up higher at 3307.31 and closed lower at 3296.57, we may consider it as a general pullback as the sellers were aggressive on the market today .The high of the day was marked at 3312.43 and the low was marked at 3295.44.

STI Day Performance
Open	3307.31
High	3312.43
Low	3295.44
Close	3296.57
Change(Points)	-8.48
% Change	-0.26%
Volume	1562.5M
Rise	155
Fall	255
Unch	710

Market forecast for STI:
We may expect market to move up if crosses the level of 3312 and may range in 3312-3325.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3290	3280	3270	3310	3325	3340

Technical indicators:

RSI is at 42.80 and CCI is at -103.12.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
GOLDEN AGRI-RES.SG	0.52	2.97	NOBLE.SG	1.39	-2.46
THAIBEV.SG	0.735	1.38	OCBC BANK.SG	9.72	-1.52
ASCENDAS REIT.SG	2.26	0.89	CAPITALAND.SG	3.24	-1.22
SEMBCORP IND.SG	5.22	0.77	OLAM INTL.SG	2.51	-1.18
HONGKONGLAND USD.SG	7.02	0.72	GENTING SING.SG	1.11	-0.89

Important Factor for today:-

• Singapore exchange is forecasting an end to a two-year hiatus for Chinese listings after regulators made it easier for companies from Asia’s biggest economy to sell shares in the city-state.
• Singapore exchange (sgx) today launched a new research and company fundamentals portal on its website.
• Keppel land which through its wholly-owned subsidiary, pt Keppel land, will be selling its 80 per cent stake in bg junction - a strata-titled retail development in surabaya, indonesia - to silverise enterprise and pt pelangi arjuno, for approximately 400 billion rupiah (s$42.8 million).
• Main board-listed united engineers said that discussions with third parties relating to an offer for the shares of the company and its subsidiary, Wbl Corporation, are ongoing.
• Main board-listed stats ChipPAC announced that its current executive vice-president and chief operating officer (coo), wan choong hoe, has resigned from both his positions with effect from sept 30 to "pursue personal interests".

SGX Singapore: Technical Outlook of STI - 17 Sept

Market Review for STI:
STI took a correction after a steep downfall and opened at 3283.22 and closed at 3296.48, total positive change of 23 points was there and the high of the day was marked at 3299.64. shares rebounded following a firmer Wall Street and hopes that the US Federal Reserve will adhere to its dovish stance.The Fed, which will conclude a two-day policy meeting on Thursday (Singapore time), has held the rate close to zero for more than five years, and stocks have surged against that backdrop.

STI Day Performance
Open	3283.22
High	3299.64
Low	3283.12
Close	3296.48
Change(Points)	+23.86
% Change	+0.73
Volume	1341.7M
Rise	266
Fall	133
Unch	728

Market forecast for STI:
A slower up pace is been seeing in the market which is indicating bullishness for the market .We may expect the same in coming trading session.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3282	3270	3260	3310	3325	3340

Technical indicators:

RSI is down and is at 40.If RSI goes above 50 then the bullish trend may form.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
GENTING SING.SG	1.12	2.28	COMFORTDELGRO.SG	2.46	-1.99
CITYDEV.SG	9.79	1.98	THAIBEV.SG	0.72	-0.69
NOBLE.SG	1.365	1.87	CAPITAMALL TRUST.SG	1.95	-0.26
HONGKONGLAND USD.SG	6.86	1.48	SIA ENGINEERING.SG	4.56	-0.22
HPH TRUST USD.SG	0.7	1.45	UOB.SG	22.54	0.13

Important Factor for today:-

• On a year-on-year basis, NODX rose by 6.0 per cent in August 2014, compared to the 3.3 per cent decrease in the previous month, due to the increase in non-electronic NODX which outweighed the decline in electronic NODX. On a y-o-y basis, NODX to all of the top 10 NODX markets, except Hong Kong, Japan and Thailand, rose in August 2014.
• XPRESS Holdings warned its shareholders of a significant net loss for FY2014. The group added that this is mainly attributed to the recoverability issue relating to its receivables and impairment of goodwill.
• Keppel Corporation announced that its subsidiary Keppel FELS has secured a fifth jack up contract from Qatar's Gulf Drilling International (GDI) for US$227 million, scheduled for delivery in the first quarter of 2016. As part of the contract, GDI has options for two more KFELS B Class rigs for deliveries in 2017.
• Magnus Energy Group announced the resignation of its managing director Lim Kuan Yew, after six-and-a-half-years in this position at the company, to pursue personal ventures and businesses. The resignation takes effect on Sept 30.

Currency Exchange Weekly Report ( FOREX )

EUR/USD
The U.S. currency had the biggest weekly decline against the euro in two months as the Fed announced June 18 it will reduce monthly bond-buying while holding its interest-rate target at virtually zero.

 The pound rose for a third week as traders had the most bullish futures wagers since 2007. A gauge of currencies volatility increased from a record low. EUR/USD gains were enabled as the European Commission asserted that the Eurozone’s economic outlook is improving. The Brussels-based institution now sees the Eurozone’s economy expanding by 1.2 per cent this year, up slightly from the 1.1 per cent previously forecast. They also see the unemployment rate in the currency bloc edging to 12 per cent.
Forecast:
The EUR/USD pair broke higher during the course of the week, using the 1.35 level as support. That being the case, it looks as we continue to bounce around in this general vicinity, using the 200 pips as the range for the market right now. Long-term traders will probably avoid this market, but short-term traders will probably find it very profitable as it looks very well contained and we have very obvious support and resistance levels. However, if we do get above the 1.37 level, we feel that the market will finally go back towards a 1.40 handle. A move below the 1.35 level since this market down to the 1.33 handle.
USD/JPY
The USD/JPY ended the week at the 102 range while traders closely monitor the conflict in Iran moving to safe havens while the geopolitical situation boils over. 

In overseas trading overnight, the dollar briefly rose to around ¥102 thanks to a rise in U.S. long-term interest rates following favorable economic data, including the Federal Reserve Bank of Philadelphia’s manufacturing index for June. The dollar was later stuck in a narrow range around ¥101.85.
Forecast:
The USD/JPY pair went back and forth over the course of the week, as continue to meander in a fairly tight consolidation area. It’s a bit difficult for longer-term traders to be involved in this market, and until it break well above the 103 level, we do not see much of a trade to the long side. As far selling is concerned, we think that there is simply far too much support below to even consider it at this point in time. Ultimately, this market breaks out to the upside, but it might take a while.
GBP/USD
With the British Pound currently trading close to a five-year high against the US Dollar, news of the Federal Reserve’s policy meeting can only help enhance the Pound Sterling to US Dollar exchange rate relationship further. 

Thursday has seen the UK retail sales report fall slightly short of predictions; however it’s still lent the Pound some underlying support. The Pound is displaying stability against the US Dollar as the US Federal Reserve is currently showing no intention of increasing interest rates. The Federal Open Market Committee also dropped its initial forecast of a long term interest rate from 4-3.75%.
Forecast:
The GBP/USD pair went back and forth during the course of the week, but closed above the 1.70 handle, a significant move to the upside. That was a pretty strong barrier for us, and we believe that it opens the way to the 1.75 level as a target. It will probably take a bit of time, but we do believe that eventually that level gets hit. If we pull back from here, we would fully anticipate buyers stepping into the market and lifting the British pound yet again.
AUD/USD
The AUD/USD ended the week close to the 94 mark at 0.9383 staying strong after positive data and promises from the Chinese Premier that China will meet its growth expectations regardless of what the government needs to do. 

The currency soared after the FOMC meeting on Wednesday. The ‘Aussie’ fell from its highest level in two months against the US Dollar after peaking at 94.33, the highest level witnessed since April 10th. The Australian dollar has more than shaken off a slight dovish shift by the Reserve Bank of Australia and has not spent much time beneath 94 cents since the FOMC meeting.  It seems likely the market would at some stage like to inquire as to what kind of supply is above 94.4 cents.
Forecast:
The Australian Dollar is now expected to fall against the US Dollar at a quickening pace as the US economy improves and commodity prices fall. The AUD/USD pair went back and forth over the course of the week forming a neutral candle. This neutral candle is still within the consolidation area that we have been in for some time, thereby not really telling us much other than the pressure to breakout to the upside continues. Because of this, we believe that ultimately the Australian dollar does again, but the market has some work to do to make that happen. If we can get a move above the 0.95 handle, we believe that this market goes to the parity level given enough time.
Currency Data from 23 – 27 june

Date	Time	Currency	Impact	Particular	Forecast	Previous
Mon Jun 23	7:15am	CNY	HIGH	HSBC Flash Manufacturing PMI	49.7	49.4
	11:30am	JPY	HIGH	BOJ Gov Kuroda Speaks
	2:30pm	EUR	HIGH	French Flash Manufacturing PMI	49.6	49.6
	1:00pm	EUR	HIGH	German Flash Manufacturing PMI	52.7	52.3
	7:30pm	USD	HIGH	Existing Home Sales	4.74M	4.65M
Tue Jun 24	2:00pm	GBP	HIGH	Inflation Report Hearings
	7:30pm	USD	HIGH	CB Consumer Confidence	83.6	83
		USD	HIGH	New Home Sales	442K	433K
Wed Jun 25	6:00pm	USD	HIGH	Core Durable Goods Orders m/m	0.003	0.003
Thu Jun 26	3:00pm	GBP	HIGH	BOE Gov Carney Speaks
	6:00pm	USD	HIGH	Unemployment Claims	314K	312K
Fri Jun 27	4:15am	NZD	HIGH	Trade Balance	250M	534M
	All Day	EUR	HIGH	German Prelim CPI m/m	0.002	-0.001
	2:00pm	GBP	HIGH	Current Account	-17.1B	-22.4B