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SGX Outlook: Weekly Technical Analysis for STI
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Publish date: Mon, 24 Aug 2015, 02:46 PM
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WEEKLY WRAP OF STI
Straits Times Index (STI) opened at 3114.56 and ended -4.40 points or 4.40% lower to 2971.01 this week. STI came off from its weekly peak of 3116.36 and low of 2948.14.
| STRAIT TIMES WEEKLY WRAP | |
| OPEN | 3114.56 |
| HIGH | 3116.36 |
| LOW | 2948.14 |
| CLOSE | 2971.01 |
| CHANGE (In Points) | -137.15 |
| % CHANGE | -4.40 |
Banks, properties and oil and gas heavy weights hit at the moment which are dragging the index lower.
This week has'nt been good for the local stock market, with the Straits Times Index (STI) dropping five days. Volume has been thin in the market. For the week, the STI lost about four points.
Singapore Exchange is proposing the introduction of an Affiliate Segregation rule, whereby the collateral of an affiliate of an SGX Derivatives Clearing (SGX-DC) member is protected if the member defaults on its own contracts.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 2948 | 2882 | 2794 | 3115 | 3215 | 3281 |
LOCAL BOURSE
Local banks' loan growth is likely to subdued remain in coming quarters, though the lenders may benefiit from higher net interest margins with the imminent rise of interest rates, Fitch Group's BMI Research says in a report released on Friday.
Singapore is likely to remain stuck in the grip of deflation when the Consumer Price Index (CPI) for July is released next week.
Singapore-based online retailer RedMart has raised US$26.7 million ($37.5 million) in funding from investors, including Garena, Facebook co-founder Eduardo Saverin and SoftBank Ventures Korea.
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