Market
Review for STI:
Singapore shares opened higher today with the Straits Times Index gaining 11.80 points to 3312.86. Oil prices are going to stay at $ 65 per barrel for at least 6 months. Crude is trading in a bear market as the highest U.S. production in three decades exacerbates a global glut. Saudi Arabia, which led OPEC’s decision to maintain rather than cut output at a Nov. 27 meeting, last week offered supplies to its Asian customers at the deepest discounts in at least 14 years. If it is going to be continued and until there are cuts to production, there could be more pain to come.
Important Factor for today:-
Singapore shares opened higher today with the Straits Times Index gaining 11.80 points to 3312.86. Oil prices are going to stay at $ 65 per barrel for at least 6 months. Crude is trading in a bear market as the highest U.S. production in three decades exacerbates a global glut. Saudi Arabia, which led OPEC’s decision to maintain rather than cut output at a Nov. 27 meeting, last week offered supplies to its Asian customers at the deepest discounts in at least 14 years. If it is going to be continued and until there are cuts to production, there could be more pain to come.
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STI
Day Performance
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Open
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3312.86
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High
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3334.93
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Low
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3306.75
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Close
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3319.84
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Change(Points)
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+22
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% Change
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+0.67%
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Volume
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1563.9M
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Rise
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147
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Fall
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235
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Unch
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402
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Market forecast for STI:
As Singapore stock market consist of stocks from other countries also the effect of dip in Japan’s economy will result in dipping down of STI.
As Singapore stock market consist of stocks from other countries also the effect of dip in Japan’s economy will result in dipping down of STI.
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STI LEVELS
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Support 1 |
Support 2 |
Support 3 |
Resistance 1 |
Resistance 2 |
Resistance 3 |
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3300 |
3290 |
3280 |
3340 |
3350 |
3375 |
Technical Indicators:
RSI is at 53 and CCI is at -7
RSI is at 53 and CCI is at -7
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Top Gainers
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Top Losers
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Scrip Name
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CMP
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%change
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Scrip Name
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CMP
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%change
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SGX.SG |
7.6 |
3.4 |
JMH USD.SG |
59 |
-1.96 |
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JARDINE C&C.SG |
43.53 |
2.11 |
COMFORTDELGRO.SG |
2.6 |
-0.76 |
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OCBC BANK.SG |
10.41 |
2.06 |
SIA ENGINEERING.SG |
3.92 |
-0.76 |
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DBS.SG |
19.86 |
1.85 |
SEMBCORP MARINE.SG |
2.89 |
-0.69 |
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SIA.SG |
11.2 |
1.82 |
THAIBEV.SG |
0.715 |
-0.69 |
- Oil Prices will stay at about $65 a barrel for at least half a year until OPEC changes its collective production or world economic growth revives, said the head of state-run Kuwait Petroleum Corp.
- Asian stocks fell, after U.S. shares dropped the most in almost seven weeks, as oil extended its decline and a stronger yen weighed on Japanese exporters.
- Catalist- listed Spackman Entertainment Group has agreed to buy a 51 per cent stake in Novus Mediacorp for S$2.53 million. Novus is an investor and presenter of Korean theatrical films, and specialises in ancillary distribution, or distribution to non-theatrical markets.
- Singapore's LionGold Corp Ltd, one of the companies at the centre of a penny stock crash last year, said it expected to report a loss before taxes for the first half of its fiscal year due to impairment losses.
- West Texas Intermediate fell to a five-year low as Iraq followed Saudi Arabia in cutting prices for crude sales to Asia, adding to signs that OPEC’s biggest members are defending market share.
- Singapore Exchange welcomed mm2 Asia Ltd to Catalist under the stock symbol "41C" and Huationg Global Limited to Catalist, under the stock code of "41B".
BUY KEPPEL CORPORATION ABOVE 8.40 TARGET 8.44 8.50 SL 8.34 for SGC stock tips as researched by Epicresearch.co.
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