Singapore Stock Exchange
Weekly Technical Outlook : STI Singapore 25-29 Aug
Alex Gray
Publish date: Fri, 29 Aug 2014, 08:28 PM
Alex Gray
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Market Review for STI:
STI opened higher for the week at 3358.52 and the closing was marked at 3327.09. On a year-on-year basis, Singapore's manufacturing output grew 3.3% in July 2014. Excluding biomedical manufacturing, output decreased 2.2%. On a seasonally adjusted month-on-month basis, manufacturing output increased 2.7% in July 2014. Excluding biomedical manufacturing, output declined 0.8%.According to central bank data, total bank lending in Singapore was barely changed in July from June as loans to manufacturing, building and construction rose while lending to financial institutions fell.
STI opened higher for the week at 3358.52 and the closing was marked at 3327.09. On a year-on-year basis, Singapore's manufacturing output grew 3.3% in July 2014. Excluding biomedical manufacturing, output decreased 2.2%. On a seasonally adjusted month-on-month basis, manufacturing output increased 2.7% in July 2014. Excluding biomedical manufacturing, output declined 0.8%.According to central bank data, total bank lending in Singapore was barely changed in July from June as loans to manufacturing, building and construction rose while lending to financial institutions fell.
STRAIT TIMES WEEKLY WRAP | |
| Open | 3331.91 |
| High | 3358.52 |
| Low | 3321.32 |
| Close | 3327.09 |
| Change(Points) | +1.59 |
| % Change | +4.77% |
Market forecast for STI:
STI overall is in uptrend and gave up move for the week made a high of 3358.52 but closed lower .We may expect the bullishness in market and it is expected to open higher.
STI overall is in uptrend and gave up move for the week made a high of 3358.52 but closed lower .We may expect the bullishness in market and it is expected to open higher.
| STI LEVELS | |||||
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3315 | 3278 | 3250 | 3360 | 3385 | 3450 |
Technical indicators: RSI and CCI both the technical indicators are supportive for the bullish move of the market and is at 60& 100 for the week.
Important Factor for today:-
- Fitch Ratings says that the prudential and regulatory framework for banks in Singapore remains strong.
- Asian markets slipped today as the prospect of a military confrontation between Ukraine and Russia knocked confidence and offset forecast-beating US growth data.
- Singapore's Olam International, one of the world's biggest traders of rice, coffee and cocoa, posted flat annual core earnings, hampered by weaker sales in the latest quarter as the company exited or downsized businesses. Its net profit for the quarter ended June fell 43.9% to $31.8 million.
- IPS Securex Holdings, the provider of security products and integrated security solutions, said it has won a $4.5 million contract from the HDB for the installation, leasing and maintenance of alert alarm systems (AAS) for several blocks of residential housing across Singapore. The AAS is for use by the elderly during an emergency.
- Hong Kong stocks climbed 0.55 per cent in the first few minutes of trade today following another positive lead from Wall Street.
- Singapore sovereign fund GIC said it has invested US$104m in Taiwanese music streaming service provider KKBOX.
- COSMOSTEEL Holdings fell 11.6 per cent early on Thursday following news that the company's chief executive and an executive director were called in by corruption investigators.
- CAPITALAND'S wholly owned serviced residence unit, The Ascott, has won a contract to manage a 174-unit serviced residence in Gurgaon, near New Delhi.
Sector Allocation Chart
| Sector | RISE | FALL | UNCHANGED |
| properties | 22 | 30 | 30 |
| manufacturing | 57 | 47 | 154 |
| services | 36 | 46 | 72 |
| commerce | 16 | 17 | 66 |
| finance | 10 | 11 | 27 |
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