Market Review for STI: Share prices opened lower with the Straits Times Index down 7.01 points to 3,416.34.A day after bucking declines in most Asian markets, Singapore shares took a breather today as investors digested gains and waited for fresh leads. High of the day was marked 3422 and low was 3401.
STI Day Performance
Market forecast for STI: STI will move in the range of 3390 to 3343.
STRAITS TIME LEVELS
Technical Indicators: RSI is at 52 and CCI is at 82
Top Gainers: COMFORTDELGRO.SG, ASCENDAS REIT.SG, KEPPEL CORP.SG, HONGKONGLAND USD.SG, SEMBCORPMARINE.SG
Top Losers: SIA.SG, JSH USD.SG, NOBLE.SG, UOB.SG, WILMAR INTL.SG
Important Factor for today:–
- China’s stocks rebounded from the longest losing streak since October after benchmark money-market rates dropped and speculation grew that the government will take measures to bolster the economy.
- China’s Everbright Securities has agreed to buy Hong Kong conglomerate Sun Hung Kai & Co Ltd’s 70 percent stake in its brokerage and wealth management service unit for HK$4.1 billion (US$529 million)..
- Noble Group could pay special dividends of three US cents a share for 2014 and five US cents for this year as it tidies up its capital structure and seeks to improve value for shareholders.
- Malaysia’s current account surplus will probably narrow as liquefied natural gas prices drop, according to Bank of America Merrill Lynch, adding a new risk to the nation’s weakening economic outlook.
- Singapore offshore and marine companies are not expected to have felt the full fallout of the plunge in oil prices in 4Q2014, and many of them would have started cutting costs amid reduced demand for their services and lower contract prices.