% Change: 0.01%
Market forecast for STI: We may expect STI will move in the range of 3440 to 3476.
STRAITS TIME LEVELS
Support 1: 3400
Support 2: 3374
Support 3: 3360
Resistance 1: 3471
Resistance 2: 3476
Resistance 3: 3476
Technical Indicators: RSI is at 63 and CCI is at 89.
Important Factors for today
- Singapore's economic growth is forecast to have slowed sharply in the first quarter as the manufacturing sector faced headwinds from sluggish global demand.
- Gross domestic product probably grew 0.5 per cent in January-March from the previous three months on an annualised and seasonally adjusted basis.
- Industrial production in January and February shrank on average by about 1.2 per cent from last year.
- Yuan, the Chinese currency, declared as the most overvalued currency in the world.
- Noble Group on Thursday "completely rejects" the allegations made by Muddy waters Research and it fell 5.5% to 86 cents on strong volume after short-seller Muddy Waters issued a 14-page report attacking the company's financial health and accounting practices.
- The frenzy that made Chinese stocks the world's best performers is spilling over the border into Hong Kong.
- After propelling the Shanghai Composite Index to a 90 percent rally in the past 12 months, mainland investors are buying as many Hong Kong equities through the exchange link as regulators will allow.
- Oversea Chinese Banking Corp has opened a securities unit in Jakarta, as it seeks to expand in Southeast Asia's biggest economy.
- Daiwa has cut its price target for Ezra Holdings to 40 cents from 52 cents after lowering its earnings per share estimates for FY2015 to FY2017 by 9% to 16%.
- Greece is due to make its 459 million euro (S$670.5 million) April loan payment to the IMF, but the European nation's ability to honour its debts remains a source of acute anxiety to creditors.
- Oil prices rallied more than one per cent on Thursday, clawing back part of a 6 per cent slump triggered by a jump in US crude inventories and record Saudi output.