Singapore Stock Market Analysis for 09 July

Posted: July 9, 2014 in Stock Tips

Market Review for STI:
Share prices
opened lower with Straits Times Index down 2.89 points to 3280.450. Asian equities continue to trade at a discount and could get a 12-15% upside potential this year, driven by a mild re-rating and earnings momentum. Cooling Chinese inflation overnight added to weak European industrial data earlier in the week, pointing to slowing global growth and eclipsing a positive start to the U.S. earnings season.

sti

STI Day Performance
Open 3280.450
High 3284.930
Low 3264.010
Close 3275.460
Change(Points) -7.880
% Change -0.24
Volume 2580.3M
Rise 170
Fall 222
Unch 392

Market forecast for STI:
Due to the slow economic growth data the effect is seen negative today and also the impact is expected to continue until any positive factor is seen in the economy. Technically, in the day chart head & shoulder pattern can be formed. The market is expected to drop but it will also take a corrective action.

STI LEVELS
Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
3260 3252 3240 3282 3290 1925

Technical indicators:
RSI is above the centre level @51.438, CCI is at 14.452.MACD is observed @1.092.

Top Gainers Top Losers
Scrip Name CMP %change Scrip Name CMP %change
Jardine C&C 46.8 0.75 Olam Intl 2.43 -2.8
JSH 500 USD 37.06 0.71 Noble 1.375 -1.79
HPH Trust USD 0.735 0.69 UOB 23.2 -1.28
HongkongLand USD 6.69 0.6 Wilmar Intl 3.2 -0.62
CityDev 10.2 0.49 Sembcorp Marine 4.05 -0.49

Important Factor for today:-

  • According to CIB report, a strong Singapore dollar should not be seen as too helpful in curbing rising prices, since various measures suggest that inflation pressures are more domestic in nature.

  • The bank said Singapore will “maintain competitiveness,” noting that manufacturing activity has been picking up, driven by the biomedical, chemicals and transport engineering sectors.”Along with the gradual recovery in the global economy, externally-oriented sectors including manufacturing and trade-related services are likely to be supported in the coming quarters,” added the report.

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