Singapore Stock Market Technical Analysis Report 11 May

Market Review for STI: Singapore shares are likely to head higher on the back of Wall Street's rally last Friday fuelled by a positive April US payrolls report.

 The US unemployment rate fell to 5.4%, the lowest since May 2008.China's decision on Sunday to cut interest rates - the third reduction in six months - to support the world's second-largest economy is also expected to underpin investor sentiment. The Dow Jones Industrial Average rose 1.5% to 18,191.11, the S&P 500 climbed 1.4% to 2,116.10 and the Nasdaq Composite gained 1.2% to 5,003.55.

Market forecast for STI: STI has taken rebound we may expect bullish trend in STI.
Technical Indicators: RSI is at 49 and CCI is at -74.
ECONOMIC FACTORS:

• Asian stocks rise after China rate cut, US payrolls.
• Vallianz's Q1 profit rises 5% to US$4.97m.
• Crude-oil bulls threatened as shale patch revives drilling plans.
• Dollar suffers as reflation trade transforms losers into winners.
• Asian bankers face US$43b dead deals after oil plunge.
• Nuclear power generation in Japan will cost 10.3 yen per kilowatt hour or more by 2030, the cheapest among various power sources.
• Asia-Pacific Strategic Investments has offered to acquire Century 21 Hong Kong in a deal worth $1 million.
• The US$5.3-trillion-a-day foreign-exchange market has a new buzzword: reflation. "This could bode for a weaker US dollar across the board."
• Saudi Arabia opening its US$568 billion stock exchange to foreigners.
• Nuclear power generation in Japan will cost 10.3 yen per kilowatt hour or more by 2030, the cheapest among various power sources.
• Asia-Pacific Strategic Investments has offered to acquire Century 21 Hong Kong in a deal worth $1 million.

SGX Singapore : STI Trading Analysis and Signals

Market Review for STI: Shares edged down and the Straits Times Index (STI) was 5.9 points or 0.17 per cent lower at 3,476.80 despite Wall Street's climb overnight. Shares were still mostly lower as investors cashed out on stocks that went ex-dividend and digested various earnings reports before planning their next move.
Market forecast for STI:We may expect STI will touch 3440 after that it will take rebound.
Technical Indicators: RSI is at 47 and CCI is at -87.
ECONOMIC FACTORS:

• Oil prices edged lower in thin Asian trade as concerns over a global supply glut persisted, with few fresh leads for dealers to track.
• SINGAPORE'S manufacturing sector contracted for a fifth consecutive month in April, according to the latest purchasing managers' index (PMI).
• Indonesia's economic growth in the first quarter slumped to its weakest annual pace since 2009, hurt by slowing demand from major export partners and a drop in global oil prices, the statistics bureau said on Tuesday. 
• Gold retained overnight gains on Tuesday but was stuck below US$1,200 an ounce as investors waited on US nonfarm payrolls later in the week for clues on when the Federal Reserve will hike interest rates.
• KENCANA Agri will report a net loss for the three months ended March 31, the palm oil producer announced late on Monday.
• Noble Group has brought forward its first-quarter results announcement by two days, but the Asian commodity trading giant under attack from a research firm over alleged improper accounting did not give a reason for the move.

Singapore Stock Market Technical Analysis for STI 7 April

Market Review for STI: Singapore share prices opened higher, with the STI up 13.49 points or 0.4 per cent to 3,466.4, drawing strength from Wall Street's run-up overnight. Gains on Wall Street overnight may lift Singapore shares but the upside is likely to be modest, especially for blue chips, ahead of the March-quarter earnings season, which kicks off in full swing next week.

STI Day Performance
Open: 3469.38
High: 3476.20
Low: 3459.94
Close: 3465.62
Change(Points): +12.71
% Change: +0.37%
Volume: 1928.4M
Rise: 243
Fall: 140
Unch: 401
Market forecast for STI: STI broke its resistance, we may expect bullish trend in STI
Technical Indicators: RSI is at 66 and CCI is at 122.

STI LEVELS
Support 1: 3400
Support 2: 3374
Support 3: 3360
Resistance 1: 3476
Resistance 2: 3476
Resistance 3: 3476
Important Factors for today :

• Lower liners in the offshore oil and gas sector were actively traded.
• CIMB has downgraded Wing Tai Holdings to "hold" from "add" on valuation grounds following the stock's strong gains in recent weeks.
• Ship builder Triyards Holdings announced it secured US$100 million ($135.3 million) of new orders that comprises a liftboat, a high speed aluminium craft project that includes integrated logistics support work, and a fabrication project.
• Daily share trading activity on the Singapore Exchange (SGX) eased in March from year-ago levels, while derivatives trading continued to grow.
• Oil prices fell on profit-taking in Asia on Tuesday after rallying in the previous session owing to doubts the nuclear agreement between Iran and global powers will immediately boost Tehran's crude exports.
• The Singapore Tourism Board (STB) has unveiled more initiatives to increase visitor numbers by making two-year partnership with Changi Airport Group to boost tourist arrivals .
• OSIM International may be facing even slower sales in China, one of its biggest markets, as recent economic indicators show Chinese consumers continue to spend less than they used to.

SGX Singapore: STI Tehnical Analysis Report 6 April

Market Review for STI: Shares slipped 1.27 points, or 0.04 per cent, to 3,452.48 as on the back of a decline in US stock futures on weak jobs data released on Friday. As Asian shares rose and the dollar dropped on Monday, after a dismal US jobs report pushed up US Treasury yields as investors pared bets the US Federal Reserve would hike interest rates anytime soon.
STI Day Performance
Open: 3451.73
High: 3458.18
Low: 3451.28
Close: 3452.91
Change(Points): 0.84
% Change: 0.02%
Volume: 1939.0M
Rise: 256
Fall: 153
Unch: 376
Market forecast for STI: We may expect bullish rally in next trading session.
Straits Time Levels
Support 1: 3400
Support 2: 3374
Support 3: 3360
Resistance 1: 3469
Resistance 2: 3456
Resistance 3: 3458
Technical Indicators: RSI is at 63 and CCI is at 107.
Top Losers: sia.sg, sph.sg, hph trust usd.sg, sembcorp marine.sg, sgx.sg
Top Gainers: golden agri-res.sg, jardine c&c.sg, genting sing.sg, noble.sg, capitamall trust.sg
Important Factors for today:-

• Oil prices rose more than US$1 a barrel in early Asian trade, as last week's framework deal between Iran and global powers on Tehran's nuclear programme offers little chance for any significant increase in exports until 2016.
• The value of stocks traded daily on the Singapore Exchange fell last month from February and stagnated compared to March 2014.
• Banks and credit card companies in Singapore have teamed up to launch a scheme to help highly leveraged borrowers ease their debt burden.
• Market breadth in Singapore remained positive, with almost two gainers for every decliner.
• Small caps mostly outperformed blue chips, which generally stagnated as investors held back ahead of the March-quarter earnings season, which starts next week.
• Singapore's central bank is likely to ease monetary policy further this month by re-centring its exchange-rate band lower to help support the local economy, which is slowing down and grappling with deflation.
• A 9.7% y-o-y fall in Singapore's exports in February has given rise to the risk of a contraction in the domestic economy in 1Q2015.