Singapore SGX : STI Closing Updates 4 September

Alex Gray

Publish date: Thu, 04 Sep 2014, 08:05 PM

Market Review for STI:

Share prices opened lower today with the straits times' index down 4.77 points to 3,341 shortly after the opening bell. After the two days of sharp up move it seemed that prices were in correction mode. STI was down for the whole trading session .The close for the day was observed at 3346.34.

STI Day Performance
Open	3341.140
High	3346.34
Low	3334.60
Close	3346.34
Change(Points)	-2.43
% Change	-0.07%
Volume	1767.3M
Rise	153
Fall	252
Unch	721

Market forecast for STI:

As the indicators are favourable and the overall trend is up we may expect that it will move in uptrend for the next trading session.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3330	3320	3310	3350	3360	337

Technical Indicators:

RSI is at 60 and CCI is at 95.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
OLAM INTL.SG	2.69	1.89	OCBC BANK.SG	9.66	-1.43
THAIBEV.SG	0.69	1.47	KEPPEL CORP.SG	10.85	-1.18
JSH 500 USD.SG	37.55	1.13	JARDINE C&C.SG	44.58	-1.11
JMH 400 USD.SG	63.09	1.09	SEMBCORP IND.SG	5.12	-0.97
ASCENDAS REIT.SG	2.37	0.85	GENTING SING.SG	1.21	-0.82

Important Factor for today:-

Professionals in Singapore are more willing to trade climbing the corporate ladder for acquiring new skills. The results from Kelly Global Workforce Index showed that 51 per cent of Singapore respondents opted for new skills, placing lesser weight on securing a pay rise or promotion.
Tuan sing holdings said it has signed an agreement with its joint venture partner, Morgan Stanley, to acquire the remaining 50% interest in grand hotel group for a cash consideration of a$126.04 million ($147.2 million).
Hong Kong shares slipped 0.20 per cent in the first few minutes of trade as profit-takers moved in following the previous day's rally.
Asian shares mostly slipped on profit-taking following a healthy rally across the region the previous day, while wall street provided another tepid lead despite an upbeat assessment of the us economy.
Singapore eDevelopment Ltd (SeD) on Thursday said that Fragmented Industry Exchange Inc (FIE) intends to acquire its instant messaging software subsidiary for US$700 million in shares and bonds.
Singapore aims to double its petrochemicals production by the end of the next decade and is setting aside up to 40 per cent of its reclaimed land on Jurong Island for new chemical plants, a JTC Corporation executive told Reuters in an interview.
HDB resale prices slipped 1.1 per cent in August compared with July 2014, data from the Singapore Real Estate Exchange (SRX) shows.
Singapore is the world's second most competitive economy for the fourth year running, according to the World Economic Forum's (WEF's) latest Global Competitiveness Index (GCI).

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