Share prices opened lower with the Straits Times Index down 42.31 points to 3,328.28. Asian shares tumbled as sliding oil prices and political uncertainty in Greece forced investors out of risk assets and into the safety of government bonds. Singapore shares remained weak as investor appetite across the region soured after steep falls in oil prices overnight renewed concerns that global growth might be more tepid than expected. Get FREE Trail for Trading signals.
Market forecast for STI: STI is not stable; it was down by 46.Most probably market will go down.
Technical Indicators: RSI is at 42 and CCI is at 61.
Important Factor for today:-
- US oil prices dropped below US$50 (S$67) a barrel for the first time since 2009 on a rocky day in global financial markets.
- Demand for higher returns in Singapore bonds from the city’s swelling private banking industry has brought with it greater risks.
- Securities trading value fell 25 per cent while derivatives trading volume rose to a record high in 2014, the Singapore Exchange (SGX) announced.
- SINGAPORE’S manufacturing sector contracted in December, according to the latest Purchasing Managers’ Index (PMI), which has fallen to its lowest in close to two years.
- Asian indices fell sharply, after stocks on Wall Street declined overnight following the relentless fall in oil prices.