Straits Times Index; Market Intraday Outlook 01-Feb

Market forecast:

Today STI again test the new high @ 3290.90, but closed below the opening level, as it is trading at higher level so it’s may be a take a break move.

STI trading in an uptrend and having next Resistance level @ 3315 mark, and if it will sustain above this then we can see it to all time high levels soon.

STI having support @ its previous resistance level i.e. 3240 mark and if STI crossed this level then we can see lower levels and 3220-3195 will act as a major support zone for STI.

Support:

STI having immediate support @ 3260 level and below this level it can take support @3240-3220 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3300 and above this level it may take resistance @ 3315-3350 levels.

Technical indicators:

Technical indicators are seems to overbought zone on charts.

STI Singapore Market Outlook for 31-Jan 2013

Market Review:

Singapore market opens slightly up, in line with regional bourses.  Singapore share prices opened @ 3265.95 levels and then it made low @ 3264.51 and took support at this level and recovers sharply and headed towards the day high @ 3285.90 levels and closed at the same higher level with gain of 26.15 points up by 0.80%.

Some 4.25 billion shares, valued at S$1.86 billion were traded. Gainers outnumbered losers 328 to 136.

Market forecast:

Today STI again test the new high @ 3285.90 and closed at same level which is good sign for further uptrend.

STI trading in a uptrend and having next Resistance level @ 3315 mark, and if it will sustain above this then we can see it to all time high levels soon.

STI having support @ its previous resistance level i.e. 3240 mark and if STI crossed this level then we can see lower levels and 3220-3195 will act as a major support zone for STI.

Support:

STI having immediate support @ 3240 level and below this level it can take support @3220-3195 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3300 and above this level it may take resistance @ 3315-3350 levels.

Technical indicators:

Technical indicators are seem to overbought zone on charts.

Singapore Stock Market Forecast for 30th Jan 2013

Market forecast:

After making high @ 3276 levels STI facing resistance to crossed this level and closed below 3260 levels @ 3259.

STI next resistance comes @ 3285 levels and we can see some pressure at STI to cross this higher levels and if it will crossed this level then it can move towards 3300 levels soon.

STI having support @ its previous resistance level i.e. 3240 mark and if STI crossed this level then we can see lower levels and 3220-3195 will act as a major support zone for STI.

Support:

STI having immediate support @ 3240 level and below this level it can take support @3220-3195 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3280 and above this level it may take resistance @ 3300-3320 levels.

Technical indicators:

Technical indicators are seems to overbought zone on charts.

Singapore Stocks To Watch Today 29 Jan

STOCKS TO WATCH TODAY 29-JAN 2013

FRASER AND NEAVE LTD 

Fraser and Neave Ltd's entire board of directors intend to resign after a takeover offer by Thailand's third-richest man closes on Feb. 4, they said before a shareholder meeting on Tuesday.

MAPLETREE COMMERCIAL TRUST

Mapletree Commercial Trust, which owns shopping malls and offices, secured a term loan and revolving credit facilities of S$461.8 million, which would partially finance the acquisition of an office building in Singapore.

ASCENDAS HOSPITALITY TRUST

Ascendas Hospitality Trust said its third-quarter distributable income was S$12.5 million, 3.6 percent higher than its forecast. It now has 10 hotels across Australia, China and Japan, the company added.

Singapore Manufacturing is Likely to Slow in Coming Years

SINGAPORE, Jan 28 (Reuters) - Singapore attracted S$16 billion ($13 billion) in fixed asset investments last year, a 17 percent increase from 2011, but the city-state will likely attract fewer capital-intensive projects in coming years due to land and manpower constraints, its Economic Development Board (EDB) said on Monday.

EDB, Singapore's main economic planning agency, said it expects to attract S$11 billion-13 billion worth of investments in new facilities, equipment and machinery this year as companies remain keen to expand in Southeast Asia at a time growth prospects in developed economies remain weak.

"We believe that this (forecast) is consistent with the level of capital-intensive investments that we expect to see over the medium term in keeping with Singapore's land and labour constraints," EDB managing director Yeoh Keat Chuan told reporters at a briefing.

"There continues to be land for industry to grow," added EDB chairman Leo Yip. "(But) it is quite clear that we have reached a stage of our economic development where the rate of growth of land going forward cannot be the same as what we had experienced in the past."

Singapore's economy has been in the doldrums in the past three quarters, hurt by slowing global demand for electronics made worse by the strong local dollar and government measures to make it harder for firms to hire low-cost workers from abroad.

The city-state's output of electronics fell 11.3 percent last year, with December's year-on-year decline of 16.9 percent the largest since January 2012.

Straits Times Index - Weekly Forecast for 28Jan to 01Feb

Market Forecast for week ahead:

• STI itself maintain above the 3200 mark and able to breached its 2 year high on the closing basis. It is a bullish sign for coming days.

• As STI trading above its 61.8% retracement level and having intermediate Resistance level @ 3270 mark so it made today 3269 level high, now we are looking further uptrend in the STI and can touch the 3380 levels soon which is 78.6% retracement for STI.

• For the coming week STI look volatile, because it is trading above the last 2 years higher level of 3200 ,so can face some pressure to maintain above this level and if hold itself above this than we can see the 3380 mark soon.

STI Resistance:

• STI having Resistance @ 3285 and above this level it may take resistance from 3310-3350 levels.

STI Support:

• STI having nearest support @ 3220 below this 3195-3150 will be the support area for market.

Technical Indicators

Technical indicators give the impression of being in overbought zone. MACD gives bullish cross over and RSI move above its centreline area @ 70.56.

STI Weekly Wrap and Macroeconomic Factors for Last Week

STI Singapore Weekly Summary:

Singapore's benchmark index hit a two-year high after rising for the third straight day and 2nd consecutive week.

STI opens above the 3200 mark this week too @ 3213 level and then continuously traded for upwards and crossed its major resistance of 3240 mark, made week & also 2 year high @ 3269.31 and closed for the week @ high i.e. 3269.31with gain of 58.09 points up by 1.78% wow basis.

Some 3.13 billion shares, valued at S$1.78 billion were traded. Gainers outnumbered losers 296 to 174.

Snapshot of Macroeconomic factors for last Week:

Singapore's industrial production likely contracted 4.2 % in December from a year ago, according to the median estimate of economists polled by Reuters, indicating the city-state's fourth quarter and full-year 2012 GDP will be revised downwards.

Singapore's inflation rate accelerated last month driven once again by housing and transport costs.

Department of Statistics data showed the Consumer Price Index (CPI) in December 2012 rose 4.3 % from a year earlier, after increasing 3.6% on-year in November. Accommodation cost inflation reached 8.5 % in December, following a 6.6 % gain the previous month.

Singapore share prices ended 0.5% higher on further signs that China's manufacturing sector is picking up steam. Preliminary China manufacturing PMI figures from HSBC came in at 51.9 for January, up from December's 51.5.

STI Singapore Technical Outlook for 25-Jan

STI Daily Technical Chart

Market forecast:

More than 2 weeks of consolidation today STI crossed its 3240 mark which was great hurdle for STI and closed above this level.

Today STI crossed its major Resistance level of 3240 mark and closed above this @ 3248.39, now we expect further bullish move in STI.

Now above 3240 levels STI having a next resistance @ 3265-3280 mark and support @ 3220-3210 levels so in the coming days we can see the battle between the bulls and bears for either side breakout.

Support:

STI having immediate support @ 3235 level and below this level it can take support @3220-3195 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3265 and above this level it may take resistance @ 3280-3300 levels.

Technical indicators:

Technical indicators are seems to overbought zone on charts.

Singapore Stock Market Forecast - 24 Jan 2013

Market forecast:

Singapore share prices ended 0.4% higher on Wednesday as investors turned bullish on Asia's economic outlook after the Bank of Japan had pledged the previous day to continue its asset-buying program.

STI made High of 3235 levels and faced resistance at this level as previously, STI trading near its recent high of 3237 levels and struggling to cross this level.

As STI on its high, so we are expecting some consolidation move in STI. So if STI will not able to cross its 3240 levels than it can move one again lower levels and can touch 3150 levels.

Support:

STI having immediate support @ 3210 level and below this level it can take support @ 3185-3165 will be the support zone for STI.

Resistance:

STI having immediate Resistance @ 3240 and above this level it may take resistance @ 3260-3280 levels.

Technical indicators:

Technical indicators are seem to overbought zone on charts.

STI Market Review; End of Day Summary 23-Jan

Market Review: 

Singapore market opens up; the advances beat the declines 177 to 66. And also STI closed near the day’s high.

Singapore share prices opened 3223.28 levels and then it made day low @ 3222.17 and took support at this level and recovers some points and made day high @ 3235.23 and finally closed @ 3231.23 with gain of 11.37 points down by 0.35%. Some 3.90 billion shares, valued at S$1.58 billion were traded. Gainers outnumbered losers 259 to 165.

Singapore's inflation rate accelerated last month driven once again by housing and transport costs. Department of Statistics data showed the Consumer Price Index (CPI) in December 2012 rose 4.3 % from a year earlier, after increasing 3.6% on-year in November. Accommodation cost inflation reached 8.5 % in December, following a 6.6 % gain the previous month. 

Straits Times Index - Intraday Outlook for 23-Jan

Market forecast:

Singapore equities open flat and also trading in a same as yesterday open and then made day low and took support near the 3210 levels and recovers and made almost same high and closed below yesterday’s close.

STI facing resistance @ its 3225-3235 levels as it is trading on the higher levels and we expect that it could be in consolidation phrase for some time.

As in the last week STI traded below the bullish channel and look to be more bearish below 3150 , but it took support near 3150 @ 3160 mark. Now it’s looking like to break Resistance level of 3240 soon.

Support:

STI having immediate support @ 3210 level and below this level it can take support @3185-3165 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3230 and above this level it may take resistance @ 3250-3280 levels.

Technical indicators:

Technical indicators are seems to overbought zone on charts.

Singapore Stock Market Forecast For 22-Jan 2013

Market Review: 

Singapore market opens higher with good gap and closed high on its 1 week high above the 3200 mark.

Singapore share prices opened higher up 18.85 points to 3,213.95, after opening higher it came down and took support @ its day low level @ 3210.76 and then it trades higher and made 1 week high @ 3226.66 and finally closed @ 3221.32 levels with gain of 10.10 points up by 0.32%.Some 5.39 billion shares, valued at S$2.32 billion were traded. Gainers outnumbered losers 274 to 200.

Singapore's industrial production likely contracted 4.2 % in December from a year ago, according to the median estimate of economists polled by Reuters, indicating the city-state's fourth quarter and full-year 2012 GDP will be revised downwards.

Market forecast:

STI opens higher and traded above the 3200 mark whole day, maintain itself above 3210 levels and closed 3120 mark.

It’s a second trading day where STI closed up with gain and also try to breach its Resistance of 3230 mark and expected to break in coming days.

as in the last week STI traded below the bullish channel and look to be more bearish below 3150 , but it took support near 3150 @ 3160 mark. Now it’s looking like to break Resistance level of 3240 soon.

Support:

STI having immediate support @ 3195 level and below this level it can take support @3165-3140 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3240 and above this level it may take resistance @ 3260-3280 levels.

Technical indicators:

Technical indicators are seems to overbought zone on charts.

Singapore Stock Picks - Genting Hong Kong at 17 mths High

Shares of Genting Hong Kong Ltd rose as much as 6.2 percent to a 17-month high after its part-owned unit Norwegian Cruise Line Holdings Ltd (NCL) made a strong market debut on the Nasdaq.

By 0204 GMT, Genting Hong Kong shares were up 2.5 percent at $0.415 with 14 million shares traded, compared to its full day average volume of 17 million shares over the last five sessions.

Genting Hong Kong has jumped 20 percent since the start of the year.

On Friday, shares of NCL, a global cruise line operator, surged 30.5 percent above its initial public offering price of $19 on its first day of trading.

CIMB Research said this values the company at $5 billion versus its estimate of $2.4 billion and the company's initial valuation of $1 billion when Genting Hong Kong bought it in 2000.

"Guidance from the IPO shows that our numbers and valuations of NCL were too conservative," said CIMB, adding that its two new ships will command a 30 percent premium in ticket pricing, making them key growth drivers for NCL and Genting Hong Kong.

CIMB raises its earnings per share forecasts for Genting Hong Kong by 3-40 percent, and said the next big catalyst for its shares would be the listing of Travellers, which develops and operates its Manila integrated resort.

STI Singapore - Market Forecast for Next Week

Market Forecast for week ahead (21-25 Jan 2013):

• As we mention in our previous report that STI were traded in straight & sharp upward trend and made a bullish channel and can breached this channel on daily chart and STI acted in the same manner it crossed this channel and made week low near the support level of 3150 @3160 mark.

• STI maintain itself to close above the 3200 mark but it’s time to take cautious approach in equities as STI crossed the 3200 mark and made low of 3160 we can expect down rally till this level again in comings days if STI can’t sustain above the 3200 mark.

• For the coming week STI look volatile, because it is trading above the last 2 years higher level of 3200 ,so can face some pressure to maintain above this level and if hold itself above this than we can see the 3300 mark soon.

STI Resistance:

STI having Resistance @ 3230 and above this level it may take resistance from 3260-3285 levels.

STI Support:

STI having nearest support @ 3185 below this 3160-3140 will be the support area for market.

Technical Indicators:

Technical indicators give the impression of being in overbought zone. MACD gives bullish cross over and RSI move above its centreline area @ 66.37.

Weekly Summary and Macroeconomic Factors for Last Week (14-18 Jan)

Weekly wrap of STI: 

It was choppy week for Singapore equities as they try to hit the higher side but cant able to do and made it’s almost 2 week low.

STI opens with gap down below the 3200 mark @ 3193.88 level on very 1st trading day of the week as per the some news and then it made a week high @ 3221.16 level but suddenly fell down and made a week low @ 3160.83 below the 3200 mark, but finally it closed above the 3200 mark @ 3211.22 with loss of 5.28 points down by 0.164% wow basis.

Snapshot of Macroeconomic factors for last Week:

Singapore marine fuel sales rose to a five-month high of 3.63 million tonnes in December, 10.7 percent higher than the previous month, official data showed on Monday.

Retail sales in Singapore dropped 1.1% on-year in November 2012 as a result of lower sales of motor vehicles, according to the Department of Statistics (DOS).

Singapore's non-oil domestic exports declined by 16.3 % on-year in December 2012. This following the 2.6 % decrease in the previous month, due to both electronic and non-electronic exports. Economists were expecting December's exports to drop 8%.Exports to all of the top 10 export markets contracted in December. The top three contributors to the export decline in December were the US, Malaysia and South Korea. On a month-on-month basis, exports rose 1.8 % in December.

Singapore Stock Markets Outlook 18-Jan 213

Market forecast:

Today STI opened with bullish expectations and made a high of 3221 mark in the early morning but later on it was unable to sustain the same movement and closed on red at 3195.10 loosing 13.40(-0.42%) points.

Straits Times Index previously trading in a channel called bullish channel from the last 3 trading session and expected to continue more bearish trend in next  trading days. STI can find intrady support @ 3150-3140 levels in coming days. If STI will able to move above the upper level of channel than it will move further upside.

Support:

STI having immediate support @ 3180 level and below this level it can take support @ 3150-3130 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3215 and above this level it may take resistance @ 3230-3245 levels.

Technical indicators:

Technical indicators are seem to overbought zone on charts.

Sti Singapore - Technical Outlook for 17-Jan

Market forecast:

Today STI suddenly fell and took support near the 3160 mark and closed above the 3200 mark with gain from the previous day.

STI previously trading in a channel called bullish channel from the last 3 trading session it traded below the channel and looking more bearish and can took support @ 3150-3140 levels in coming days.

STI now crossed this channel and traded below this level which will be the cause of more bearishness in the market. If STI will able to move above the upper level of channel than it will move further upside.

Support:

STI having immediate support @ 3180 level and below this level it can take support @3150-3130 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3215 and above this level it may take resistance @ 3230-3245 levels.

Technical indicators:

Technical indicators are seems to overbought zone on charts.

STI Singapore Market Forecast 16-Jan

Market forecast:

Today STI breached its support level of 3200 and took support at below its next level for 3185 and closed below the 3200 mark.

STI previously trading in a channel called bullish channel from the last 3 trading session it traded below the channel and looking more bearish and can took support @ 3150-3140 levels in coming days.

STI now crossed this channel and traded below this level which will be the cause of more bearishness in the market. If STI will able to move above the upper level of channel than it will move further upside.

Support:

STI having immediate support @ 3180 level and below this level it can take support @3150-3130 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3215 and above this level it may take resistance @ 3230-3245 levels.

Technical indicators:

Technical indicators are seems to overbought zone on charts.

Singapore Stock Markets Outlook for 15-Jan 2013

Market Reviews

Singapore's main index battered today as the government introduce some new measures to cooling off the real-estate market.

Singapore shares open deep down @ 3193.88 mark and then made a day low @ 3185.12 and took support at this level as it is a strong support zone for STI and recovers and made day high @ 3206.59 and finally closed @ day  high with loss of 9.91 points down by 0.31%.Some 3.56 billion shares, valued at S$2 billion were traded. Losers outnumbered gainers 270 to 221.

Singapore marine fuel sales rose to a five-month high of 3.63 million tonnes in December, 10.7 percent higher than the previous month, official data showed on Monday.

STI Intraday Technical Levels

Market forecast

Today STI breached its support level of 3200 and took support at its next level for 3185. But closed above the 3200 mark.

as we mention in our previous report that STI trading in a channel called bullish channel. For the coming days this channel will act the major trading zone for STI and STI now crossed this channel and traded below this level which will be the cause of more bearishness in the market. If STI will able to move above the upper level of channel than it will move further upside.

STI is in bullish phrase as it is trading above the resistance levels and if it will maintain above the 3150 mark it can move further upside.

Support:

STI having immediate support @ 3180 level and below this level it can take support @3150-3130 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3230 and above this level it may take resistance @ 3260-3280 levels.

Technical indicators:

Technical indicators are seem to overbought zone on charts.

Singapore Property Stocks Falls after Cooling Measures

Shares of major property developers in Singapore were battered Monday after the government introduced new measures to cool the real estate market at the weekend.

By midday, shares of top developers listed on the Singapore Exchange had sunk more than four percent as investors spooked by the measures dumped the stocks.

CapitaLand shed 4.11 percent to Sg$3.73, City Developments fell 6.11 percent to Sg$11.83 and Keppel Land slumped 6.31 percent to Sg$4.01.

"We're seeing a knee-jerk reaction to the cooling measures," said Jason Hughes, head of premium client management for IG Markets Singapore.

The new measures, which came into force Saturday, included sharply higher duties on property purchases by foreigners.

Singaporeans' minimum cash down-payments for second or subsequent homes were raised from 10 to 25 percent of a property's value.

But Hughes predicted property stocks would be able to ride out the storm thanks to their overseas portfolios.

"We do have to consider that a number of these guys are regionally focused," he said, adding that the effects would have been more severe if they were "purely local developers."

HSBC Global Research said in a report that Singapore may institute more cooling measures because property demand is expected to remain robust.

"Low interest rates and an expected economic recovery this year will support demand. Further steps can, therefore, not be ruled out," the report stated.

The new property measures were imposed after home prices continued to rise even as the city-state suffered an economic slowdown.

Singapore narrowly avoided a technical recession in the last quarter of 2012.

The economy grew just 1.2 percent in 2012, from 4.9 percent in 2011, with 2013 expansion forecast at 1.0-3.0 percent.

STI Singapore Weekly Outlook for 14-18 Jan 2013

STI has taken a rest this week as it traded sideways in narrow range after its previous upside rally. This positive move of the index is expected to be continued if it continues to sustain at current levels.

If STI continues to sustain above 3200 levels then further positive move may be seen in it and may test its resistance levels of 3281.

Though breach of support level at 3198 it may fall till the levels of 3150.

STI Weekly Support

STI having strong support @ 3198 and below this level 3150-3105 will be the major support zone for coming week.

STI Weekly Resistance

STI having nearest resistance @ 3240 level, above this level 3281-3315 will be the major Resistance for market.

Technical Indicators

Technical Indicator RSI and MACD are lying in overbought zone, so the sideways move may be continued in STI. Also sustaining at current levels upside move should continue.

Singapore Stock Factors To Watch Today

STOCKS TO WATCH TODAY

FRASER AND NEAVE LTD

Thai billionaire Charoen Sirivadhanabhakdi extended his $7.2 billion offer to take over Singapore property and drinks conglomerate Fraser and Neave for the sixth time, until Jan. 15.

NAM CHEONG LTD

Nam Cheong said it is issuing up to 190 million new shares to be sold at S$0.255 each, which represents a discount of about 9.7 percent to the weighted average price on Jan. 10. Most of the proceeds will be used to fund expenditure for shipbuilding projects and its vessel chartering business.

STX OSV LTD HOLDINGS LTD

Offshore ship builder STX OSV said Tidewater Inc has acquired contracts for three platform supply vessels under construction at STX OSV's yard in Norway.

SINGAPORE TECHNOLOGIES ENGINEERING LTD

ST Engineering said its aerospace arm has secured new contracts worth about S$450 million in the fourth quarter of 2012 for airframe, component and engine maintenance works.

Singapore's STI Market Forecast 11-Jan 2013

Market forecast:

After taking support near the 3200 level STI reported gain for the 2^nd consecutive day and again touch the Resistance level of 3235.

As we previously mention in our report that in the strait upward rally after taking support @ 2931.60 STI made a channel called bullish channel. For the coming days this channel will act the major trading zone for STI. If STI will able to move above the upper level of channel than it will move further upside.

STI is in bullish phrase as it is trading above the resistance levels and if it will maintain above the 3150 mark it can move further upside.

Support:

STI having immediate support @ 3200 level and below this level it can take support @3180-3150 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3240 and above this level it may take resistance @ 3260-3280 levels.

Technical indicators:

Technical indicators are seem to overbought zone on charts.

Singapore Stock Markets Review 10-Jan

Market Review: 

Singapore's main index extended its gains for a second straight day, as stronger-than-expected Chinese trade data buoyed investor confidence.

Singapore shares open higher @3230.45 level almost with gain of 10 points and then it made a day high of 3035.95 mark finally STI closed below the high level @ 3226.25 with gain of 5.84 points up by 0.18%.Some 4.3 billion shares, valued at S$1.91 billion were traded. Gainers outnumbered losers 268 to 222.

China's exports grew 14.1 % in December from a year ago to hit a seven-month peak, exceeding market expectations for a 4 % rise; imports grew 6% on the year, double the forecast. This boosted the country's trade surplus to $31.6 billion in December, from a surplus of $19.6 billion in November, and sharply above a forecast of $19.7 billion.

STI Singapore Updates - Stock Reviews

The benchmark STI is up 0.4% at ,231.9, tracking gains in US stocks that have boosted sentiment in some Asian markets.

Olam International (O32.SG) is among the worst performers on the STI, down 0.6% at $1.62 after UBS slashed its rating and forecasts on the stock Wednesday. Wilmar International (F34.SG) is flat at $3.60, but Golden Agri-Resources (E5H.SG) is up 0.8% at $0.665 and CapitaLand (C31.SG) is up 0.8% at $3.89.

STI Technical Outlook For Tomorrow 10-Jan

After two days of losing streak STI today took support near the 3200 mark and closed just above the resistance level of 3220.

As we yesterday mention in our report that “on the daily chart we can see the strait upward rally after taking support @ 2931.60 and made a channel called bullish channel. But on the other side with this sharp upward rally STI now trading in the support level of this bullish channel and if it breached this channel then we can see the sharp downtrend in the STI” , but STI took support on that support line and closed well above that level.

For the coming days this channel will act the major trading zone for STI. If STI will able to move above the upper level of channel than it will move further upside.

STI is in bullish phrase as it is trading above the resistance levels and if it will maintain above the 3150 mark it can move further upside. Technical indicators are seem to overbought zone on charts.

STI Support Levels

STI having immediate support @ 3200 level and below this level it can take support @3180-3150 will be the support zone for STI.

STI Resistance Levels

STI having immediate Resistance @3240 and above this level it may take resistance @ 3260-3280 levels.

STI Singapore Market Forecast for 09-Jan 2013

Asian equity markets traded largely in the red, tracking a somewhat cautious sentiment on Wall Street going into the unofficial start of the Q4 earnings season on Tuesday. STI shares closed lower on profit-taking on Tuesday.

Singapore share prices opened flat @ 3221.86 levels and then traded on lower levels and breached the 3200 mark and finally made a day low below this level @ 3198.38 levels and finally closed above the 3200 mark @ 3205.52 with loss of 12.74 points down by 0.40%. Volume was 5.74 billion shares valued at S$1.73 billion changing hands. In the broader market, losers beat gainers nearly two to one.

Market forecast - 09 Jan 2103

it’s a 2^nd consecutive day where the STI traded in the down trend and today it slips below the 3200 mark but maintain itself to closed above the 3200 mark @ 3205.52.

On the daily chart we can see the strait upward rally after taking support @ 2931.60 and made a channel called bullish channel. but on the other side with this sharp upward rally STI now trading in the support level of this bullish channel and if it breached this channel then we can see the sharp downtrend in the STI.

STI is in bullish phrase as it is trading above the resistance levels and if it will maintain above the 3150 mark it can move further upside.

Support:

STI having immediate support @ 3180 level and below this level it can take support @3150-3120 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3220 and above this level it may take resistance @ 3240-3260 levels.

Technical indicators:

Technical indicators are seems to overbought zone on charts.

Singapore Stock Picks - Technical Calls

Buying Recommendation on Tat Hong

 The stock broke out of its short term consolidation triangle yesterday on rising volume. We expect prices to test the upper end of the uptrend channel resistance I the near term.

 Its MACD and RSI are beginning to turn up one more after holding at their respective support levels.

 The stock is a buy now with a stop placed below S$1.36. The next resistance at S$1.48 is likely to be tested. We would not discount the rally to surpass that level and test S$1.55 next.

STI Singapore - Intraday Market Forecast 08 Jan

Market forecast

After euphoria of last week, today STI closed in the negative numbers. But still it looks positive as it closed above the 3200 mark.

Today STI made its all time high mark but closed @ day low level, for the more positive move STI have to maintain itself above the 3200 mark.

STI is in bullish phrase as it is trading above the resistance levels and if it will maintain above the 3150 mark it can move further upside.

Support

STI having immediate support @ 3200 level and below this level it can take support @3180-3150 will be the support zone for STI.

Resistance

STI having immediate Resistance @3240 and above this level it may take resistance @ 3260-3280 levels.

Technical indicators

Technical indicators are seem to overbought zone on charts.

Stocks Factor To Watch Today - SGX SIngapore

STOCKS TO WATCH

SINGAPORE EXCHANGE LTD

Singapore Exchange said its securities turnover in December was up 39 percent to S$23.2 billion ($18.9 billion) from a year earlier, while securities daily average value grew 46 percent to S$1.2 billion.

OCEAN SKY INTERNATIONAL LTD

Ocean Sky said it had agreed to sell its apparel operations business to Hong Kong-listed Luen Thai Holdings Ltd for $55 million. Ocean Sky intends to pay a special dividend of S$0.016 per share on completion of the sale.