Share prices opened higher with the Straits Times Index up 20.67 points to 3,321.35.Asian equity markets mostly rose following a rally on Wall Street and a strong pick-up in oil prices, Market breadth was positive, but volume was thin, suggesting the change in lot trading sizes from 1,000 shares to 100 has yet to make an impact. Trading Signals
STI Day Performance
Market forecast for STI: Market is consolidation range we can’t predict anything right now. STI is not in stable mode.
Technical Indicators: RSI is at 46 and CCI is at -73.
STRAITS TIME LEVELS
Important Factor for today:-
- Singapore handled 33.9 million 20-foot containers last year, according to a statement posted on the Maritime & Port Authority of Singapore’s website dated Jan. 16. Last month, Shanghai said it expects to process about 35.2 million boxes in 2014. A year before, the gap between the two ports was about 1 million boxes.
- SLIDING oil prices and uncertain global growth have sent inflation expectations plummeting in Singapore to their lowest levels in three years.
- The Singapore economy will benefit from lower oil prices since it is a net importer of oil.
- Efforts by the Singapore Exchange to grow its derivatives business may have yielded positive results, with average derivatives trading volumes up 53% y-o-y in 4Q2014, but the recent strength may not be sustainable, says UBS.
- JTC Corporation (JTC) has awarded the tender for an industrial site at Tuas South Street 9 (Plot 52) to the highest tenderer, Asiaone Logistics & Warehousing Pte Ltd, for S$7.04 million.
- Singapore remains a gateway to Asia, but not when it comes to raising equity. The city-state’s annual share of equity issuance in local markets including Malaysia, Indonesia, the Philippines and Thailand averaged 45 per cent between 2004 and 2009. That has fallen to 37 percent over the last five years.