7:17 PM
Unknown
Weekly
wrap of STI:
SINGAPORE
share prices opened lower on Friday with the Straits Times Index down
10.15 points to 3,296.74.STI
opened lower at 3289.680 than the previous week but ended higher at
3310.530. STI was in uptrend this week, in mid week it was little
lower but recovered it further.
Singapore’s small and medium sized enterprises (SMEs) are slightly
more positive about their growth in the H2, reported by Singapore
Business Federation (SBF) and DP SME Index. The total of 16.8 points
positive movement is seen in this week.
Singapore’s exports fell for a second straight month in June as per
trade agency International Enterprise.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3200 | 3100 | 3000 | 3320 | 3340 | 3350 |
Market Forecast for week ahead:
STI
was bullish this week and can boost more if the resistance level of
3320 crosses. Prices are already above the 20 & 5o days EMA ,this
indicated the rise .If the prices falls below the level of 3200 then
we may expect index to be more bearish.
STRAIT
TIMES WEEKLY WRAP
|
|
| OPEN | 3289.680 |
| HIGH | 3310.530 |
| LOW | 3286.280 |
| CLOSE | 3310.530 |
| CHANGE (In Points) | +16.8 |
| % CHANGE | +0.51% |
Technical
Indicators:
RSI
is at 63.904 and CCI is at 85.306.Both the indicators are supportive
for the bullish trend .MACD is at 4.045.
Macroeconomic
factors:
- Singapore's non-oil domestic exports extend to fall in June, recording a year-on-year 4.6% drop.
- The Singapore economy performed worse than the market had expected in Q2 expanding 2.1% compared to a year ago, slower than the 4.7% growth seen in Q1.
- 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.
- Singapore’s economy contracted in April to June for the first time in 7 quarters, hit by a sharp drop in manufacturing activity and the drop to alter the outlook for the city-state’s tight monetary policy. Gross domestic product (GDP) shrank by 0.8% t in the 2nd quarter on a seasonally adjusted and annualised basis.
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