Singapore Stock Market Review 22 Dec

Posted: December 22, 2014 in Uncategorized

Market Review for STI:
Share prices opened higher with the Straits Times Index up 19.37 points to 3,298.90.Oil prices rose in early trading as Asian markets opened strongly into a holiday-shortened week and as consensus spread that Brent crude prices would likely remain above US$60 for the rest of the year. High for the day was marked at 3328.35 and low at 3291.49.STI
STI Day Performance
Open: 3293.72
High: 3330.96
Low: 3291.49
Close: 3330.96
Change (in Points): +51.43 %
Change: +1.57%
Volume: 1459.5M
Rise: 259 Fall: 114
Unch: 822
Market forecast for STI:
STI gave good opening, we may see bullish rally in next trading session.
Technical Indicators:
RSI is at 55and CCI is at 44.
STRAITS TIME LEVELS
Support 1: 3280
Support 2: 3270
Support 3: 3260
Resistance 1: 3340
Resistance 2: 3350
Resistance 3: 3360
Macroeconomic factors:

  • Singapore’s headline inflation rate in November may turn negative for the first time in five years due partly to sliding oil prices, and a few economists see scope for the central bank to ease tight monetary policy to support economic growth.
  • THE Singapore government is proposing new policies to enhance credit co-operatives’ (credit co-ops) financial prudence, governance, and management capabilities, with changes targeted for full implementation by 2018.
  • China is willing to help Russia if needed but believes that the country has the ability to overcome its current economic problems
  • Canon has become the latest founding partner and official printing & imaging partner of the Singapore Sports Hub, following its signing of a three-year agreement.
  • Jason Holdings on Monday said that its chief executive officer will fully indemnify the group’s wholly-owned subsidiary, Jason Parquet Specialist (Singapore) (JPSS), against all legal costs and damages that may arise out of a S$1.23 million suit.
  • Capitagreen has obtained its Temporary Occupation Permit (TOP) on Dec 18, and has secured leases for 50.4 per cent (352,800 square feet) of its net lettable area as at December.
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