Weekly wrap of STI:
Straits Times Index up 2.40 points to 3,357.11 today .Asian markets rose as an index of Chinese manufacturing activity hit an 18-month high in July, boosting hopes for the world’s number two economy, as concerns over the Ukraine crisis eased. This week started with the breakout seen from the strong resistance level of 3308.72 and the market was up through the week. Open of the week was observed at 3313.83, close was at 3340.42.
|STI Day Performance|
|CHANGE (In Points)||29.89|
Market Forecast for week ahead:
With the ease over Ukraine crises the market took a good move this week. We may expect that the market will take correction the coming week and can be bearish for some days in a week but may end bullish breaking this week’s high.
Relative Strength Index (RSI) is above the centre line showing bullishness in the market and is at 61.89.CCI is at 67.93. The prices are above 20 & 50 days EMA.
|Support 1||Support 2||Support 3||Resistance 1||Resistance 2||Resistance 3|
- Singapore home prices will probably declines as the government sticks with curbs, according to Keppel Land, signalling further losses for Asia’s second-most expensive housing market.
- RESALE prices of public housing in Singapore fell 1.4 per cent in the second quarter compared to the preceding quarter.
- Consumer Confidence in Singapore remained stable at 98 index points in the Q2 of 2014, falling by just one point from the previous quarter.
- OFFICE rents and RETAIL rents in Singapore continued to rise, climbing 2.8 per cent in the second quarter following the 2.4 per cent increase in the first quarter of this year. Retail increased by 0.6% in Q2.
- Singapore Exchange strengthens ties in India, opens liaison office in Mumbai on approval from the Reserve Bank of India.
- Singapore Exchange (SGX) is pleased to welcome First Sponsor Group Limited to its Main board under the stock code of “ADN”.