Singaporer Stock Market Updates and Future Forecast

Market Review for STI: Shares traded in the negative territory, dragged down by declines on Wall Street overnight due to concerns of imminent US interest rate hikes on the horizon.The Dow Jones Industrial Average fell 1% to 18,041.54, the S&P 500 gave up 1% to 2,104.20 and the Nasdaq Composite shed 1.1% to 5,032.75.

STI Day Performance
Open: 3434.80
High: 3438.19
Low: 3412.52
Close: 3424.94
Change(Points): -35.4
% Change: -1.01%
Volume: 1610.5M
Rise: 159
Fall: 253
Unch: 948
Market forecast for STI: We may expect STI will touch 3400 then it will take rebound.
STRAITS TIME LEVELS
Support 1: 3400
Support 2: 3373
Support 3: 3356
Resistance 1: 3470
Resistance 2: 3521
Resistance 3: 3550
Technical Indicators: RSI is at 49 and CCI is at 2.
ECONOMIC FACTORS:

• Boustead Singapore reported a 30 per cent slide in net profit to S$17.9 million for the fourth quarter ended March 31, 2015, amid a challenging operating environment.
• Cortina Holdings posted a 28.5 per cent surge in its fiscal fourth-quarter net profit to S$6.7 million.
• EuroSports Global announced a net loss of S$4.02 million for the fiscal year ended March 31, 2015, compared to a net profit of S$17.02 million a year ago, dragged down by poorer gross margin, lower sales of new automobiles, a fall in the group's watch distribution and retail business, as well as higher expenses.
• CSC Holdings chalked up a net loss of S$9.03 million for the fourth quarter ended March 31, 2015, against a net profit of S$533,000 a year ago, due in part to impairment losses on plant and equipment. 
• Singapore's foreign maids exploited by agents, employer.
• Singapore O&G launches IPO for Catalist listing
• Keppel Corp unit buys remaining stake in Norwegian firm OWEC Tower.
• Dollar rallies to 8-year high on yen.
• Oil market dips on strong dollar.