Singapore SGX Market Review for STI 13th Jan

The Straits Times Index gained 6.45 points to 3,344.89.Asian stocks were mostly firmer after benign Chinese economic data helped offset risk aversion generated by a continuing slide in crude oil prices, while the dollar fell to a one-month low against the safe-haven yen. High of the day was 3346 and low was the 3325.

Open: 3334.06

High: 3346.60

Low: 3325.43

Close: 3341.07

Change(Points): -3.820

% Change: -0.11%

Volume: 1371.1M

Rise: 143

Fall: 209

Unch: 851

Market forecast for STI: Still oil is a big factor and the continued worrying issues in the global economy pulled the market down and we may expect the same situation.

Technical Indicators: RSI is at 54 and CCI is at 43.

Support 1: 3301

Support 2: 3280

Support 3: 3260

Resistance 1: 3350

Resistance 2: 3374

Resistance 3: 3404

Important Factor for today:-

• Energy stocks took a hit in Asian trade as oil prices fell towards six-year lows with warnings of further volatility ahead but some rare upbeat Chinese trade data helped Hong Kong and Shanghai into positive territory.
• Resale prices of non-landed properties in Singapore inched up 0.1 per cent in December compared to the previous month, largely because of a 0.5 per cent rise in prices for suburban units.
• Singapore's non-oil domestic exports in December were expected to fall versus a year earlier, a Reuters poll found, after recent business surveys showed the global economy ended 2014 on weak footing.
• Oil prices slumped on Monday to nearly 6-year lows under US$48 (S$64) per barrel, hurting the energy sector, but euro zone stock markets pushed higher on stimulus hopes.
• A bond index created by the Singapore Exchange (SGX) and Reuters tracking Singapore-dollar denominated bonds continues to hit new highs, outperforming the Straits Times Index (STI) for the week ended Jan 9, 2015.
• Resale prices of non-landed properties in Singapore inched up 0.1 per cent in December compared to the previous month, largely because of a 0.5 per cent rise in prices for suburban units.