Singapore Stock Exchange: Market Review for STI- 8 Jan

Posted: January 8, 2015 in Stock Tips

Share prices opened higher with the Straits Times Index up 5.73 points to 3,304.09.  stiAsian equity markets rallied, while oil prices enjoyed a rare fillip following a surge in New York and Europe on strong US data and expectations for fresh euro zone stimulus measures. Brent crude extended gains to hold above US$51 a barrel, after an unexpected fall in US crude stocks snapped a 4-session decline the previous day. High for the day was marked at 3347 and low at 3299.
Market forecast for STI:
Today STI was up by 45 points. We may expect that STI will be bullish in next trading session. More Stock Trading Signals
Technical Indicators:
RSI is at 54 and CCI is at 29.
Important Factor for today:-

  • Standard Chartered Bank has confirmed reports that it will shut down its institutional equities business globally as part of its US$400-million ($524-million) cost-cutting programme.
  • Singapore is updating guidelines on an accounting practice mired in controversy for helping multinational companies minimize their tax bills, as the city-state moves more in line with a crackdown by Western governments on aggressive tax avoidance.
  • Investors betting oil will rebound from the lowest prices in 5 1/2-years poured the most money in more than four years into funds that track crude.
  • Singapore stocks held on to gains but trading was more subdued than yesterday’s as penny stocks were less active.
  • Singapore’s Deputy Prime Minister Teo Chee Hean expressed his sadness after a shocking attack at the office of satirical French magazine Charlie Hebdo left 12 dead and more than 20 injured.
  • Raffles Education Corporation’s Oriental University City Holdings announced the details of its share listing on the Hong Kong Stock Exchange’s Growth Enterprise Market.
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