Tuesday, September 29, 2015

Singapore STI Market Review & Forecast for 30 Sept

    Singapore’s benchmark Straits Times Index opened on Tuesday morning at 2,754.35 points, down 1.35 per cent or 37.57 points as overnight US losses dragged down morning trading in Asia and ended 4.0 points or 0.14% lower to 2787.90. STI came off from its intra-day peak of 22790.60 and low of 2740.36.
Singapore stocks were down midday as commodity-related companies led a sell-off over concerns of weaker raw materials prices amid China's economic slowdown.
Singapore's manufacturing sector continues to be a negative in the economy in third quarter of 2015.
Singapore's full-year 2015 GDP growth to 2.2% from 2014's 2.9%. It had earlier projected Singapore's 2015 GDP growth at 2.5%.
Singapore property auction market saw S$27.6 million of deals in the third quarter of the year, more than double the S$10 million seen in the second quarter though slightly below the S$31.7 million seen a year ago.
Singapore dollar (SGD) fell through S$1.43 on Tuesday, to a fresh six-year low, on increased concerns over global growth.
Market forecast:
STI is expected to consolidate. STI has broken the support level of 2757. STI has its resistance at 2800. If it breaks this level it might go up to 2830. Investor sentiments are cautious over the early rate hike of U.S. By FED and slowdown of china’s economy.
Support 1
Support 2
Support 3
Resistance 1
Resistance 2
Resistance 3
  • Croesus Retail Trust is acquiring Torius Property, a retail property located in Fukuoka, Japan, for a purchase consideration of JPY8 billion ($95.2 million), through debt and equity financing. The consideration represents a 3.7% discount to valuation of JPY8.3 billion.
  • Huationg Global, the full-service integrated civil engineering solutions provider, it has secured new civil engineering contracts worth a total of $81.3 million.
  • Rex International Holdings' subsidiary, Rex International Investments (RII) will subscribe to one million new Lime Petroleum Norway AS shares at a nominal value of NOK 100 per share for a total transfer price of NOK 100 million ($16.8 million).
  • Hong Kong stocks tumbled 3 per cent to a two-year low on Tuesday as growing fears of a sharp slowdown in the world economy sparked heavy selling, particularly in energy and commodity related shares. The benchmark Hang Seng index fell 3.0 per cent to 20,556.60 points, its lowest close since July, 2013.
  • The Nikkei 225 at the Tokyo Stock Exchange dropped 714.27 points to 16,930.84 by the close, erasing all of its gains for the year. The index is down 18 per cent since authorities shocked world markets by devaluing China's yuan currency in mid-August.
  • European shares fell for the second day in a row on Tuesday as weakness in the commodities sector hit markets, though battered miner Glencore halted its slide after a bruising sell-off on Monday. The pan-European FTSEurofirst 300 index and the euro zone's blue-chip Euro STOXX 50 index both fell 1.6 per cent.
  • Malaysia's ringgit fell, headed for its biggest quarterly loss since 1997, as the relatively low level of import cover afforded by the nation's foreign-exchange reserves makes the currency more vulnerable to an emerging markets selloff.
  • The Reserve Bank of India (RBI) lowered the benchmark repo rate - the level at which it lends to commercial banks - to 6.75 per cent, a larger cut than expected.
  • China's foreign exchange regulator is stepping up its risk controls against corruption, it said in a statement released on Tuesday via the ruling Communist Party's anti-graft watchdog.
  • Indonesia will announce later on Tuesday the second installment of a stimulus package aimed at supporting the rupiah and reviving growth in Southeast Asia's largest economy.
  • Oil traded below US$45 as investors await data that may signal the strength of demand in the world's two biggest consumers. Futures in New York were little changed after falling 2.8 per cent Monday as China reported industrial-company profits declined 8.8 per cent in August.

Tuesday, September 22, 2015

Singapore Stock Market Technical Analysis and Forecast

STI MARKET REVIEW : Singapore share prices opened higher on Tuesday with the Straits Times Index (STI) up 11.13 points or 0.39 per cent to 2,890.11 and ended 12.58 points or 0.44% higher to 2869.69. STI came off from its intra-day peak of 2890.11 and low of 2862.72.
Singapore equities inched up at noon, with no clear direction to trading and little in the way of local new cues. STI rose 0.42% to 2,894.40. Market breadth was positive. However, later in the day STI was dragged in red through heavy selling in the market.
 Singapore's GDP grew at a slower pace of 1.8% on-year in the second quarter, from 2.8% in the first quarter. On a quarter-on-quarter seasonally-adjusted annualized basis, the economy contracted by 4.0%, a reversal from the 4.1% growth in the preceding quarter.
Singapore is experiencing hazy conditions on Tuesday, with the Pollutant Standards Index (PSI) staying at the high end of the moderate range. PSI was 79 to 91. The three-hour PSI, which is not linked to any health advisory, had been rising since morning.
Market forecast: STI is expected to take side ways trend. It has support level at 2850, if it breaks this level it may down till 2830. It is trading within the range of 2830 - 2905. It has its resistance at 2905. If has its resistance at 2900. Investor sentiments are cautious as FED has shown some expectation to increase profit by the end of this year.
  • A subsidiary of Magnus Energy is forking out A$1 million (S$1 million) in cash to subscribe for 8 million shares in a new Australian oil and gas company.
  • Neptune Orient Lines (NOL) on Tuesday said that besides reports that surfaced in July saying Singapore state investment firm Temasek Holdings has put it up for sale, it was not aware of anything else which might explain the trading in its shares.
  • DBS has ambitions to introduce cashless options through a first-of-its-kind mobile application to hawker centers and quick-serve restaurants in Singapore, a senior bank executive said on Tuesday.
  • Shares in Hong Kong rose Tuesday following gains in New York after top Federal Reserve officials moved to reassure dealers about the US economy after being spooked by last week's decision to hold interest rates. The Hang Seng Index climbed 0.18 per cent, or 39.65 points, to close at 21,796.58.
  • China stocks rebounded for the second day on Tuesday, in a further sign of improving investor sentiment that may help the market gradually stabilise after the rout since mid-June.
  • Asian shares rose on Tuesday and the dollar held steady as US markets bounced back and the European Central Bank said it was prepared to ease monetary policy further.
  • Taiwan stocks rose on Tuesday mostly following overseas markets and some bargain hunting after the previous day's losses, but further gains were capped due to uncertainties ahead of the central bank's policy meeting.
  • The introduction of a new accounting standard for financial instruments will be challenging for the banking industry, especially when it comes to modeling for expected losses, the European Central Bank's supervisory chief said on Tuesday.
  • The dollar advanced against the euro and other leading currencies Monday on comments from US central bankers who continue to eye a 2015 interest rate increase.
  • US home resales fell more than expected in August, a cautionary sign for the US housing market which has recently looked on stronger footing. The National Association of Realtors said on Monday existing home sales dropped 4.8 per cent to an annual rate of 5.31 million units.
  • Gold steadied below a near three-week high on Tuesday, retaining overnight losses as Asian equities and the dollar edged higher and as investors worried over the possibility of a US interest rate hike later this year.
  • Oil prices rebounded on Monday , looked like a technical correction from heavy losses last week as the basic global oversupply picture remained intact.

Friday, September 18, 2015

Weekly Wrap of STI : Singapore Stock Market

Straits Times Index (STI) opened at 2887.41 and ended -8.44 points or 0.29% lower to 2879.59 this week. STI came off from its weekly peak of 2919.77 and low of 2837.59.
STI was up 0.1% at 2,898.27 shortly after the open, showing the muted reaction of investors to the US Federal Reserve's overnight decision to leave its benchmark interest rate unchanged.
Singapore's industrial production for August is forecasted to fall by 5% on-year mainly as demand weakens due to economic slowdown in China. The pace of downward revisions for corporate earnings in Singapore and Asean has slowed this month. Consensus downward revisions have slowed to 0.2% for MSCI Singapore companies, from 1.5% average downward revisions for earnings in August.
STI was in consolidation this week. As FED did not increase the US ineterst rate, the market is expected to be positive next week. It is expected to m,ove in the range of 2800 - 2930. However, if it breaks the resistance level of 2930, it is expected to go up till 3000.
  • Sembcorp Industries has tied up with the Singapore Economic Development Board (EDB) to be the country's first industrial "living laboratory". It will grant technology providers access to its proprietary wastewater treatment and waste-to-energy facilities on Jurong Island for late-stage test-bedding and co-innovation of water and environmental technologies.
  • Ascendas Real Estate Investment Trust (A-Reit) is looking to make its maiden acquisition of 26 logistics properties in Australia for A$1.013 billion from GIC and Frasers Property Australia.
  • Singapore Press Holdings (SPH) announced on Thursday that the executive vice-president of its Corporate Development Division (CDD), Deborah Lee, 58, will be leaving the company to pursue personal interests with effect from Dec 16, 2015, after eight years of service.
  • Silverlake Axis is buying SunGard Ambit (Singapore), or SAS, for US$12 million to expand its suite of software and services as well as deepen and broaden its customer relationships and geographical presence.
  • Hong Kong equities traced most Asian markets higher Friday as traders welcomed the Federal Reserve's decision to keep interest rates at record lows, while Shanghai ended another volatile week on a positive note. Hang Seng Index added 0.30 per cent, or 66.20 points, to close at 21,920.83
  • China stocks ended a volatile week slightly higher on Friday, after the US Federal Reserve held off from raising interest rates citing concerns about a weak world economy. Index of the largest listed companies in Shanghai and Shenzhen rose 0.4 per cent, to 3,251.27, but was down 2.9 per cent for the week.
  • The Nikkei 225 index at the Tokyo Stock Exchange dropped 1.96 per cent, or 362.06 points, to close at 18,070.21, while the broader Topic index of all first-section shares was down 1.98 per cent, or 29.53 points, at 1,462.38.
  • US central bank's decision to hold off hiking interest rates sent emerging market currencies and most Asian markets advancing on Friday, as concerns eased over an outflow of cash as the global economy suffers a painful slowdown.
  • Australian shares ended higher on Friday, shaking off a negative lead from Wall Street after the head of the central bank made reassuring comments about the economy.
  • Malaysia's inflation in August likely cooled to 3.0 per cent on lower fuel prices and after the Muslim Eid al-Fitr celebrations, a Reuters poll showed on Friday.
  • Ringgit was set to snap the longest run of weekly declines in more than four decades after the US refrained from raising interest rates and a rally in the price of Brent crude improved prospects for the net oil exporter.
  • Bank of Japan policymakers agreed that emerging economies had suffered from weak growth but were likely to improve from a longer-term perspective, minutes of the central bank's August policy meeting.
  • Gold dropped from a two-week high on Friday, giving back some of the sharp gains from the last two days, as the Federal Reserve's decision to hold US interest rates steady this week added to uncertainty over the timing of an eventual rate hike.
  • Oil markets were weak on Friday as fresh signs Opec will continue to value market share over prices outweighed expectations of a lift when the United States kept interest rates at historic lows.

Singapore Maintained in prime 10 position for Asia-Pacific vicinity- Global Innovation Index

SINGAPORE has kept up its position as the top-positioned nation in the Asia-Pacific district, as indicated by the Global Innovation Index (GII) 2015. In the worldwide positioning, Singapore kept up its seventh position.

All in all, the gathering of main 25 entertainers - all high wage economies - remains generally unaltered from past versions, showing that the pioneers' execution is difficult to test, noticed the report. A few exemptions are the Czech Republic (24th) which is in the main 25 and Ireland (eighth) which is in the main 10 this year.

Regarding development quality - as measured by college execution, the compass of insightful articles and the global measurement of patent applications - a couple of economies emerge. The US and the UK stay in front of the pack, firmly took after by Japan, Germany and Switzerland. Top-scoring center salary economies on advancement quality are China, Brazil and India, with China progressively outpacing the others.

The GII, co-distributed by Cornell University, Insead and the World Intellectual Property Organization (WIPO), overviews 141 economies around the globe, utilizing 79 markers to gage both imaginative capacities and quantifiable results.

Wednesday, September 16, 2015

Singapore Stock Market: STI Technical Analysis and Forecast

Singapore shares opened higher on Wednesday. At 9.01am, the benchmark Straits Times Index was up 26.68 points, or 0.94 per cent, at 2,868.62 and ended 26.80 points or 0.94% higher to 2868.74. STI came off from its intra-day peak of 2886.85 and low of 2855.78.
Singapore stocks traded lhigher at noon on Wednesday. STI gains 0.88% to 2,867.00 at midday
For those holding out for a roll back of property curbs after an election victory by Singapore's ruling party, the wait may be longer than anticipated.
The People's Action Party's emphatic win at Friday's polls won't be enough to reverse measures put in place as far back as 2009. The pace of decline in the city's home prices need to double the 6.7% drop from the peak two years ago before any of the restrictions will be eased.
Market forecast:
STI is expected to take side ways trend. It has broken its resistance level of 2870, its support level is at 2825. If it breaks this level it is expected to go down to level of 2800, it has its resistance at 2890. Investor sentiment are cautious over the pending FED decision to increase the interest rate.
  • Capitaland is up 1.1% at $2.80 after announcing a joint venture in Vietnam to build a residential project worth US$150 million ($210 million).
  • Singapore Airlines is up 2.5% at $10.25 after the flag carrier reports a 2.5 percentage points increase in its passenger load factor in August.
  • Technics Oil & Gas opened 10% higher at 66 cents after announcing a contract win worth $70.5 million to build a liftboat for a Malaysian customer whose name it did not reveal.
  • China Ocean Shipping (Group) Company (Cosco) and China Shipping Group, two of the country's largest shipping firms, said shares in their listed companies would remain suspended pending a complex matter under research that may involve asset restructuring.
  • Hong Kong shares rose more than 2 per cent on Wednesday, encouraged by a late-hour surge in mainland China shares, but investors remained cautious ahead of a decision by the US Federal Reserve on whether to raise interest rates.
  • British earnings, excluding bonuses, grew at their fastest rate in more than six years in the three months to July, official data showed on Wednesday. Growth in average weekly earnings, not including bonuses, rose by 2.9 in the May-July period, edging up slightly from the three months to June.
  • Shanghai stocks closed up 4.89 per cent on Wednesday, halting a two-day slump, as investors returned to the market amid speculation of state-led buying.
  • European shares climbed on Wednesday, with miner Glencore and fashion group Inditex outperforming, as the region's stock markets were buoyed by gains overnight on US and Asian equities. European FTSEurofirst 300 index advanced by 0.9 per cent while the euro zone's blue-chip Euro STOXX 50 index also rose one per cent.
  • Indonesia is preparing a major overhaul of financial safety regulations to guard against the potential for bank collapses.
  • World crude prices rose modestly Tuesday as traders eyed signs of slowing US oil production that could ease the global oversupply.
  • Gold struggled to break out of a tight range near a one-month low on Wednesday, as investors waited to hear the outlook for US interest rates from a Federal Reserve policy meeting that kicks off later in the session. Spot gold was little changed at US$1,104.60 an ounce by 0330 GMT.

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