Singapore Stock Exchange
SGX Singapore- Weekly Technical Anaysis Outlook
Alex Gray
Publish date: Fri, 31 Oct 2014, 08:16 PM
Alex Gray
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Weekly wrap of STI:
STI opened at 3231.81 for the week and ended higher at 3274.25 .STI was 51 points up and made a high of 3274.25 for the week. The Resale Price Index fell by 1.7% from 195.7 in 2nd Quarter 2014 to 192.4 in 3rd Quarter 2014. Resale transactions increased by 2.8% from 4,389 cases in 2nd Quarter 2014 to 4,513 cases in 3rd Quarter 2014. Prices of private residential properties decreased by 0.7% in 3rd Quarter 2014, following the 1.0% decline in the previous quarter.
| STRAIT TIMES WEEKLY WRAP | |
| Open | 3231.81 |
| High | 3274.25 |
| Low | 3206.21 |
| Close | 3274.25 |
| Change (Points) | 51.7 |
| % Change | +1.57% |
This was the fourth straight quarter of price decline. The stock of completed private residential units (excluding ECs) increased by 4,512 units in 3rd Quarter 2014. Redundancy rose in the third quarter of 2014, reflecting the impact of restructuring. Some 3,400 workers were laid off, up from 2,410 workers in the preceding quarter and 2,710 in the third quarter of 2013.Traders and investors appear generally reluctant to load up on stocks ahead of a two-day meeting by the US Federal Reserve's policy-setting committee.
Market Forecast for week ahead:
It is expected that the market took a weekly rebound and is in uptrend from the level of 3180 till 3274. A further up movement can be seen in coming week with STI trading in t he range of 3240-3320.
| STI LEVELS | |||||
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3240 | 3220 | 3200 | 3300 | 3320 | 3340 |
Technical Indicators:
RSI is indicating bullishness and is at 51.55 and is at and CCI is at -66.57.Both the indicators are showing bullishness towards the prices. MACD is indicating at 1.67.
Macroeconomic factors:
- The Singapore Exchange's chief regulatory officer has resigned.Richard Teng will leave the bourse operator on Feb 28 next year to become CEO of Abu Dhabi Global Market Regulator, SGX said in a statement.
- TUAN Sing Holdings has reported net profit of S$17.53 million for the third quarter ended Sept 30, 2104, triple the S$5.76 million net earnings it posted in the same year-ago period.
- Singapore Exchange's (SGX) new framework for secondary listings to encourage companies from developed markets to list here will be implemented from next Monday, the exchange said. The move follows a public consultation on the changes in June, which lasted a few weeks.
- Singapore's Ministry of Manpower said the unemployment stayed low and steady for the third quarter of 2014.Overall seasonally-adjusted unemployment rate came in at 1.9% for 3Q14, down from 2.0% in 2Q14, the manpower ministry said in its Employment Situation, Third Quarter 2014 report out this morning.
- Companies with a secondary listing in Singapore but are not listed in any jurisdiction classified as "developed" by FTSE and MSCI may soon be placed under greater regulatory scrutiny.In a bid to better regulate companies with a secondary listing here, the Singapore Exchange may impose additional requirements on those whose home exchange is deemed "developing", it said in a statement today.
- Global Logistic Properties has inked new lease agreements in China totalling 68,000 sq m.The tenants are retailers and third-party logistics service providers in Eastern and Midwestern China, GLP said in a statement.They include Goodaymart, a logistics joint venture between Alibaba and Haier.
- Singapore stocks ended generally higher but pared most of their earlier gains as investors took some money off the table ahead of comments tonight by the US central bank after it ends its two-day policy meeting.
- Yoma Strategic Holdings' September quarter earnings tripled on the back of a fair value gain on its investment properties.Earnings for the September quarter (FY2Q2015) rose to $10.8 million from $3.3 million a year earlier as the Myanmar-focused diversified business group booked a $8.1 million fair value gain on its Star City project, a major residential and commercial development.
- Singapore is the best country to do businesses in, topping for a ninth straight year a World Bank ranking that showed improvements by the UK and China while Japan declined.
- OSIM International saw a 28% fall in earnings for the 3Q ended Sept to $16 million from $23 million a year ago.Basic earnings per share fell from 3.14 cents to 2.11 cents correspondingly.Revenue grew 3% to $158 million from $153 million a year ago.
Sector Allocation Chart
| Sector | Volume | Values($) | Rises | Falls | Unchanged |
| Properties | 171,305,000 | 295,979,129 | 46 | 13 | 22 |
| Multi-Industry | 32,977,000 | 99,038,065 | 11 | 3 | 4 |
| Construction | 109,797,000 | 11,092,012 | 11 | 6 | 25 |
| Commerce | 208,218,000 | 115,055,733 | 35 | 12 | 52 |
| Hotels/Restaurants | 4,060,000 | 1,924,835 | 4 | 3 | 10 |
| Transport/Storage/Communications | 102,202,380 | 197,371,880 | 26 | 8 | 14 |
| Finance | 37,291,240 | 330,473,473 | 18 | 2 | 28 |
| Manufacturing | 331,967,633 | 137,322,650 | 88 | 30 | 140 |
| Services | 627,015,980 | 170,267,280 | 67 | 15 | 71 |
| Agriculture | 39,305,000 | 28,674,869 | 5 | 0 | 4 |
| Mining | 32,756,000 | 10,271,003 | 7 | 1 | 4 |
| Electricity/Gas/Water | 895,000 | 781,255 | 1 | 0 | 1 |
| Shares in Foreign Currencies | 35,018,435 | 91,400,489 | 33 | 7 | 111 |
| Total | 1,732,808,668 | 1,489,652,673 | 352 | 100 | 486 |
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