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Thursday, January 8, 2015

Stock Market Review for Singapore | STI Outlook 8th Jan

Share prices opened higher with the Straits Times Index up 5.73 points to 3,304.09.  Asian equity markets rallied, while oil prices enjoyed a rare fillip following a surge in New York and Europe on strong US data and expectations for fresh euro zone stimulus measures. Brent crude extended gains to hold above US$51 a barrel, after an unexpected fall in US crude stocks snapped a 4-session decline the previous day. High for the day was marked at 3347 and low at 3299.
STI Day Performance
Open
3303.65
High
3347.21
Low
3299.64
Close
3345.11
Change(Points)
+46.75
% Change
+1.42%
Volume
1389.3M
Rise
233
Fall
118
Unch
850
Market forecast for STI: Today STI was up by 45 points. We may expect that STI will be bullish in next trading session.
STI LEVELS
Support 1
Support 2
Support 3
Resistance 1
Resistance 2
Resistance 3
3300
3280
3260
3350
3370
3404
Technical Indicators: RSI is at 54 and CCI is at 29.
Top Gainers
Top Losers
Scrip Name
CMP
%change
Scrip Name
CMP
%change
OCBC BANK.SG
0.32
3.14
CAPITAMALL TRUST.SG
-0.05
-2.4
CITYDEV.SG
0.3
2.99
COMFORTDELGRO.SG
-0.01
-0.39
UOB.SG
0.58
2.47
STARHUB.SG
-0.01
-0.24
WILMAR INTL.SG
0.07
2.21
ST ENGINEERING.SG
0.01
0.3
GOLDEN AGRI-RES.SG
0.01
2.2
JMH USD.SG
0.21
0.35
Important Factor for today:-
  • Standard Chartered Bank has confirmed reports that it will shut down its institutional equities business globally as part of its US$400-million ($524-million) cost-cutting programme.
  • Singapore is updating guidelines on an accounting practice mired in controversy for helping multinational companies minimize their tax bills, as the city-state moves more in line with a crackdown by Western governments on aggressive tax avoidance.
  • Investors betting oil will rebound from the lowest prices in 5 1/2-years poured the most money in more than four years into funds that track crude.
  • Singapore stocks held on to gains but trading was more subdued than yesterday's as penny stocks were less active
  • Singapore's Deputy Prime Minister Teo Chee Hean expressed his sadness after a shocking attack at the office of satirical French magazine Charlie Hebdo left 12 dead and more than 20 injured.
  • Raffles Education Corporation's Oriental University City Holdings announced the details of its share listing on the Hong Kong Stock Exchange's Growth Enterprise Market.

 
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