Market Review for STI:
Share prices opened slightly higher with STI up 1.45 points to 3305.88. Singapore's exports of electronics fell 17.4% year-on-year in June after a 15.3% decline in May, taking non-oil domestic exports down 4.6% in June. Small and medium enterprises are slightly more positive about their growth in the next six months, an index by the Singapore Business Federation and DP Information Group showed. But on the whole, business sentiment is still not strong due to manpower curbs.STI closed at 3306.89.

Market forecast for STI:
STI formed a green hammer pattern for the day with small body and long lower shadow with a small upper shadow. Due to the weak domestic export the domestic companies are not making that much profit but still index is moving slowly up and is expected to maintain its trend.
Technical indicators:
RSI is above the centre line at 61.554, CCI is at 160.43 .MACD is observed at 3.66.

Important Factor for today:-

• Singapore’s non-oil domestic exports extend to fall in June, recording a year-on-year 4.6% drop.
• A Chinese tycoon seek to buy about 60% of the initial public offering of IREIT Global, a Singapore property trust that will invest in European properties and is aiming to raise about US$300 million
• The Singapore Exchange (SGX) continues to maintain a niche position in Southeast Asia’s initial public offer (IPO) market, with its traditional strength in real estate investment trusts (REITs) and mineral, oil and gas (MOG) listings.
• First REIT had a good run-up in stock price with its fair value estimate of S$1.21 a Unit., leaving limited upside potential.
• Jaya rallied on RTO speculation after its capital reduction. The stock was up 15% to 7.1 cents a share on 73 million shares traded.
• Tee International and Good pack Limited both had recent developments. Engineering group Tee International said that it has won S$57 million of engineering contracts in Singapore.