SGX Singapore Weekly Technical Analysis 16-20 March

Weekly wrap of STI: Starting of the week was sideway .stocks defied the odds, trading higher even as most Asian stocks dropped, following declines in US shares, as materials and technology companies led losses and Markets waiting for the US Federal Reserve's policy statement due later in the session for clues to when the Fed will hike interest rates. Federal Reserve said data suggest economic growth has moderated and officials indicated interest rates will rise at a slower pace than previously estimated.
Weekly Technical view on STI
Support 1: 3339
Support 2: 3325
Support 3: 3200
Resistance 1: 3456
Resistance 2: 3480
Resistance 3: 3495
Market Forecast for week ahead: The trend of market is expected to be bullish for next week. Currently we have seen unusual volatility in markets due to Federal Reserve meeting. We may see bullish really in next week trading session because it has taken rebound from 3374 and we may expect that it will reach up to 3456.
STRAIT TIMES WEEKLY WRAP
OPEN:3361.38
HIGH: 3417.45
LOW: 3356.66
CLOSE: 3412.44
CHANGE (In Points): +49.67
% CHANGE: 0.14%
Technical Indicators: RSI is at 57 and CCI is at 54.
Macroeconomic factors:

• Oil touched its lowest level since 2009, dragging Asian energy shares down amid increased projections for US production. The dollar weakened from its strongest in more than a decade to major peers ahead of this week's Federal Reserve meeting.
• Singapore's anti-trust regulator blocked a takeover for the first time when it provisionally ruled last week that Malaysian IHH Healthcare Bhd's planned purchase of a local unit of India's Fortis Healthcare would lessen competition.
• SGX on issued a trade with caution regarding Civmec Limited, an investment holding company that provides heavy engineering and construction services to resources and infrastructure sectors in Australia.
• Bank of Singapore said that rate hike by the Fed in September now looks more probable, with the US central bank pushing back expectations for the path of rate increases over the coming couple of years.
• Blumont Group is planning a rights cum warrants issue to raise about $27 million in net proceeds if the rights shares are fully subscribed.
• Oil resumed its slump after rallying from the lowest price in six years as focus returned to record supply in the US, the world's biggest consumer.
• Gold rose to its highest in nearly two weeks on after the U.S. Federal Reserve signalled a slower pace of interest rate hike and gave a cautious outlook for the U.S. economy.
• The Federal Reserve opened the door to the first interest-rate increase in almost a decade, while also indicating it will go slowly once it gets started.
• Singapore-listed Noble Group's 30 per cent share-slump over the past month has thrust it on to the radar screens of Asian companies that want a bigger clout in global commodities trading.
• BLACKROCK Inc, an associate of Keppel Corp, made a series of dealings on Keppel Land shares on Thursday.It purchased 7,000 shares at S$4.55 apiece and sold a total of 48,100 shares at prices ranging from S$4.53 to S$4.55 per share.
• Singapore's financial regulator will work with commodity exchanges, investors and producers to support the development of the city-state as a trading center, including the expansion of clearing houses in Asia.

STI Singapore Technical Analysis Report 18 March

Market Review for STI: The Straits Times Index (STI) opened lower at 3,361, down 8.95 points or 0.27 per cent, weighed down by cautious sentiments as commodity prices fall and nervousness increased ahead of a Federal Reserve policy state.Asian stocks were mixed and the dollar marked time on Wednesday, with markets waiting for the US Federal Reserve's policy statement due later in the session for clues to when the Fed will hike interest rates.
STI Day Performance
Open: 3357.97
High: 3373.57
Low: 3356.66
Close: 3361.75
Change(Points): -8.20
% Change: -0.24%
Volume: 961.3M
Rise: 126
Fall: 278
Unch: 377
Market forecast for STI: We may expect bearish rally in next trading session.
Straits Time Levels
Support 1: 3365
Support 2: 3345
Support 3: 3300
Resistance 1: 3400
Resistance 2: 3425
Resistance 3: 3440
Technical Indicators: RSI is at 40 and CCI is at -132.
Top Gainers: sia.sg, sgx.sg, golden agri-res.sg, jsh usd.sg, dbs.sg, global logistic.sg
Top Losers: noble.sg, capitamall trust.sg, thaibev.sg, starhub.sg, hph trust usd.sg
Important Factor for today:-

Sgx on issued a trade with caution regarding Civmec Limited, an investment holding company that provides heavy engineering and construction services to resources and infrastructure sectors in Australia.

• Tata Consultancy Services, a leading IT services, consulting and business solutions organization, announced that it has expanded its presence in Singapore with the opening of the new 1,000-person TCS Singapore Banking and Financial Services (BFS) Centre.\
• XMH Holdings, the diesel engine provider in the marine and industrial sectors, posted earnings of $4.8 million that for the nine months ended Jan (9M15). This was 38.8% lower than the $7.9 million posted a year earlier
• Concern over a US interest rate hike kept sentiment in check at some of Asia's biggest firms, as optimism about the outlook for business over the next six months was near steady in the first quarter, a Thomson Reuters/INSEAD survey showed.
• SGX this morning issued a "trade with caution" regarding Civmec Limited, an investment holding company that provides heavy engineering and construction services to resources and infrastructure sectors in Australia.
• US Treasury Secretary Jack Lew said on Tuesday China will table an offer within days or weeks on which industries would remain protected from foreign investment under a bilateral investment treaty the two nations are negotiating.
• Oil extended losses to a seventh day, with prices heading back into a bear market, before US government data projected to show crude stockpiles rose to a fresh record. The dollar weakened for a third day and emerging-market shares climbed before the Federal Reserve reports on policy.

SGX Singapore: Stock Market Technical Analysis 16 March

Market Review for STI: Singapore share prices opened lower with the Straits Times Index (STI) down 0.75 points to 3,362.02, tracing losses in the US markets. Singapore stocks hung on to their gains at noon after opening lower because Singapore-listed companies received an increase of 7.1 per cent in the median of the average director's fee - or S$60,000 per annum - in the financial year 2013/2014, compared to S$56,000 in the previous financial year.
STI Day Performance
Open: 3361.38
High: 3387.36
Low: 3358.03
Close: 3376.04
Change(Points): +13.27
% Change: 0.40%
Volume: 1050.5M
Rise: 143
Fall: 260
Unch; 381
Market forecast for STI: After one week STI was positive now we are expecting STI will be positive in next trading session.
STRAITS TIME  LEVELS
Support 1: 3340
Support 2: 3320
Support 3: 3300
Resistance 1: 3400
Resistance 2: 3420
Resistance 3: 3440
Technical Indicators: RSI is at 43 and CCI is at -134.
Top Gainers: sia.sg, thaibev.sg, jardine c&c.sg, jsh usd.sg, golden agri-res.sg
Top Losers: noble.sg, hongkongland usd.sg, sembcorp marine.sg, starhub.sg, sgx.sg
Important Factor for today:-

• The Monetary Authority of Singapore (MAS) said, last tuesday, it was reviewing and might delay the scheduled 1 June 2015 rollout of tighter macro-prudential measures to limit consumer debt.
• China's fiscal income rose just 3.2 per cent between January and February compared with the same period a year ago,well below an 8.6 per cent gain seen in the same period of 2014.
• Oil touched its lowest level since 2009, dragging Asian energy shares down amid increased projections for US production. The dollar weakened from its strongest in more than a decade to major peers ahead of this week's Federal Reserve meeting.
• Media group Singapore Press Holdings (SPH) has notified the Singapore Exchange of its move to buy a 20 per cent stake in a local start-up that offers quick and convenient access to curated data about companies and the people who run or own them.
• Singapore's anti-trust regulator blocked a takeover for the first time when it provisionally ruled last week that Malaysian IHH Healthcare Bhd's planned purchase of a local unit of India's Fortis Healthcare would lessen competition.

Singapore Stock Market Weekly Report

Weekly wrap of STI: STI performed sideways this week. First day of week it opened down by 27 points. Risk appetite remained low as investors reacted to a better-than-expected US jobs report by selling stocks, mindful that the data could prompt the Federal Reserve to raise interest rates sooner rather than later and as investor’s awaited China inflation data and following a rebound in US markets.In the mid week stocks continue their downward slide following a slump in US equities, after the dollar gained amid speculation the Federal Reserve is moving close. While the index dipped marginally below the level of 3,380 near-term supports, it is expected that the Singapore market should be resilient amid the current US rate hike uncertainty and the weak Singapore dollar against the US dollar. Last day of week Market closed at 3362 and down by 10 points.
Strait Times Weekly Wrap
Open: 3395.36
High: 3416.39
Low: 3362.16
Close: 3362.77
Change (in points): -54.74
% Change: -4.91%
Market Forecast for week ahead: We may expect STI to slide down because it is making rounding top, even Asian market was positive but STI was down, Because It is following technical pattern. It is expected that it will touch the level of 3315 as its support level and if it breaks this level, then it may further fall down.
Weekly Technical view on STI
Support 1: 3350
Support 2: 3330
Support 3: 3315
Resistance 1: 3420
Resistance 2: 3456
Resistance 3: 3495
Technical Indicators: RSI is at 40 and CCI is at -174.
Macroeconomic factors:

• SINGAPORE'S labour market will tighten further and the local workforce growth will slow significantly in the second half of this decade.
• Singapore Post has formed a joint venture with PT Trikomsel Oke Tbk, which sells mobile phones in Indonesia, to tap the e-commerce market in Southeast Asia's biggest economy.
• Jurong Aromatics Corporation (JAC) has completed maintenance at its petrochemical complex in Singapore that had started around the middle of December.
• China's consumer inflation quickened to 1.4 per cent in February, beating market expectations, recovering from a five-year low in January, but factory deflation worsened, underscoring deepening weakness in the economy
• Oil prices were mixed in Asia  as dealers weighed a strengthening US dollar with ongoing geopolitical tensions in the crude-rich Middle East.
• Asian stocks fell to a two-month low on Wednesday as nervous markets recoiled on worries about an earlier US interest rate hike, while such a prospect helped send the dollar to a 12-year high against the euro.
• Food Company Del Monte Pacific Limited (DMPL) was hit by a US$2.2 million net loss in its financial third quarter ended January 31, 2015, due mainly to acquisition expenses.
• Asian stocks fell to a two-month low on Wednesday as nervous markets recoiled on worries about an earlier US interest rate hike, while such a prospect helped send the dollar to a 12-year high against the euro.
• Food Company Del Monte Pacific Limited (DMPL) was hit by a US$2.2 million net loss in its financial third quarter ended January 31, 2015, due mainly to acquisition expenses.
• Employment growth for Singapore citizens and permanent residents is likely to taper off significantly in the coming years and employers will continue to find it costly to hire workers, whether local or foreign.
• Oil prices inched higher in Asia on Thursday but gains were capped as dealers fretted over an over-supplied global market after US crude reserves once again swelled to a record high.
• BLACKROCK Inc, an associate of Keppel Corp, made a series of dealings on Keppel Land shares on Thursday.It purchased 7,000 shares at S$4.55 apiece and sold a total of 48,100 shares at prices ranging from S$4.53 to S$4.55 per share.
• Singapore's financial regulator will work with commodity exchanges, investors and producers to support the development of the city-state as a trading center, including the expansion of clearing houses in Asia.