Market Review for STI:
STI opened at 3356.07 today. The early trading was little bullish then market took the bearish move and close at 3351.310. Asia’s markets rose further on Wednesday, extending a recent rally, with a weaker yen boosting Tokyo while investors await the release this week of key US data and the Federal Reserve’s policy meeting.
|STI Day Performance|
Market forecast for STI:
Prices are above the 20&50 days EMA. Though the market is not good the counters are not in a bullish move rather most of the active counters are in consolidation phase. In such case, the starting of the market can indicate the bullishness or bearishness for the same.
|Support 1||Support 2||Support 3||Resistance 1||Resistance 2||Resistance 3|
RSI is above the centre line and is at level 70.51 and CCI is at 136.93.
|Top Gainers||Top Losers|
|Scrip Name||CMP||%change||Scrip Name||CMP||%change|
|OCBC Bank||9.91||1.54||SIA Engineering||4.69||-1.88|
|DBS||18.08||0.28||JSH 500 USD||35.81||-1.16|
Important Factor for today:-
- Singapore’s Oversea-Chinese Banking Corporation has acquired a total of 97.52% of the issued share capital of Wing Hang Bank, closing the US$4.95 billion ($6.15 billion) bid for the Hong Kong lender.
- Keppel Land, Singapore’s third- biggest developer by value, made its maiden investment in the U.S. with a prime residential development in New York City.
- Singapore’s City Developments and Australia’s Stock land Group are considering bidding for Leighton Holdings’ $7 billion ($8.7 billion) residential and commercial property portfolio, a leading Australian newspaper reported on Tuesday.
- Singapore’s central bank announced new proposals to regulate financial benchmarks, in the wake of a series of scandals around the world involving traders manipulating Libor and other key rates.