Market Review for STI:
Singapore shares opened higher, with Straits Times Index at 3,313.83 in early trade, up 0.11 per cent. The equity markets had a good start today after Malaysian Airlines flight MH17 crashed near the Ukraine-Russia border. STI managed to end the day in positive territory at 3314.27 points. Closes higher than the previous day close. High and low was observed at 3320.25 & 3309.17.
|STI Day Performance|
Market forecast for STI:
STI formed a green doji indecisive candlestick which is indicating indecision for buying and selling. The next candle formation can confirm whether the index will move up or consolidate. We may expect a bullish trend as per indicators.
|Support 1||Support 2||Support 3||Resistance 1||Resistance 2||Resistance 3|
RSI is at 63.932, CCI is at 159.01 .MACD is at 4.15.
|Top Gainers||Top Losers|
|Scrip Name||CMP||% change||Scrip Name||CMP||% change|
|Olam Intl||2.48||1.64||Jardine C&C||46.09||-1.14|
|JSH 500 USD||36.2||0.69||Genting Sing||1.32||-0.38|
Important Factor for today:-
- The tourism receipt tally in Singapore rose to $6 billion in the first quarter of 2014, a five per cent increase on the same period last year.
- Golden Agri-Resources, the Singapore-listed holding company of crude palm oil producer PT Sinar Mas Agro Resources and Technology (SMART), has invited Spain-based Compania Espanola de Petroleos (Cepsa) to produce and sell fatty alcohol.
- Sembcorp Marine’s wholly-owned subsidiary Sembawang Shipyard has secured a Floating Storage Production Offloading (FPSO) conversion contract worth about $600 million from Saipem SA, France for the conversion of Two FPSOs for the Kaombo Project in Offshore Angola.
- UOB’s economic-treasury research division says in a note today that these geo-political tensions could continue to negatively impact markets.
- CapitaCommercial Trust (CCT) reported 2Q14 distributable income of S$64.1m – 7.6% higher YoY. This cumulates to an YTD distributable income of S$124.0m, which is within expectations and makes up 51.0% of our FY14 forecast.