Share prices opened flat with the Straits Times Index down 0.35 points to 3,365.76.Oil Falls in Worst Year Since 2008 as Asian Stocks Gain. US crude touched a low of US$53.55 a barrel in early Asian trade, remaining near 5-1/2-year lows, hit by concern over surplus supply as the United States decided to permit more oil exports and on an unexpected build-up in U.S. crude inventory last week. High of the day was marked at 3373.080 and low was 3364.640. Trading Signals
STI Day Performance
Change (in Points): -0.960
Market forecast for STI: Singapore’s Stock Exchange Looks to Make Trading More Attractive for Individuals.SGX is looking to individual investors to boost Southeast Asia’s biggest stock market after trading volume this year tumbled the most since the 2008 global financial crisis. STI will be positive for next year.
Technical Indicators: RSI is at 61 and CCI is at 132.
STRAITS TIME LEVELS
Support 1: 3340
Support 2: 3320
Support 3: 3300
Resistance 1: 3420
Resistance 2: 3440
Resistance 3: 3460
- Singapore’s economy grew 2.8 per cent in 2014, but the “moderately well” performance was dimmed by a “disappointing” minus 0.5 per cent productivity growth in the first three quarters of the year.
- The Singapore Exchange (SGX) has reprimanded New Lakeside Holdings, which has been renamed Zhongxin Fruit & Juice since Mar 2013, its former director and former group chief financial officer (CFO) for breaching listing rules and corporate governance failures.
- On a year-on-year basis, Singapore’s manufacturing output contracted 2.8% in November 2014. Excluding biomedical manufacturing, output declined 3.1%. On a seasonally adjusted month-on-month basis, manufacturing output fell 1.4% in November 2014. Excluding biomedical manufacturing, output increased 1.6%.
- Wealthy investors are poised to put at least US$90 billion into hedge funds next year, even after returns have largely been lackluster this year.
- Bank lending rose 0.6 per cent in November, following two straight months of no growth, data from the Monetary Authority of Singapore showed.
- Total bank lending in Singapore increased in November from the previous month, on the back of more loans to housing, building and construction as well as the business.
- China developer Ying Li International Real Estate and China Everbright has teamed up to invest in a mixed-use development project in Beijing’s Tongzhou District, China.