Market Review for STI: Share prices opened flat with Straits Times Index down 1.00 points to 3,430.36.Most Asian markets slipped as a strong US jobs report fuelled expectations the Federal Reserve will bring forward an interest rate rise. But more poor Chinese data lifted Shanghai on hopes of renewed easing measures. Official data released yesterday showed China’s exports falling more than 3% and imports declining almost 20% in January.
STI Day Performance
% Change: -0.39%
Market forecast for STI: We may expect STI will move in the range of 3390 to 3450
STRAITS TIME LEVELS
Support 1: 3384
Support 2: 3360
Support 3: 3340
Resistance 1: 3434
Resistance 2: 3460
Resistance 3: 3480
Technical Indicators: RSI is at 58 and CCI is at 72.
Top Gainers: NOBLE.SG, THAIBEV.SG, OCBC BANK.SG, JSH USD.SG, DBS.SG
Top Losers: HPH TRUST, USD.SG, GOLDEN AGRI-RES.SG, KEPPEL CORP.SG, SIA.SG, ASCENDAS REIT.SG
Important Factor for today:-
- HONG Kong has overtaken Singapore to be the fifth largest wealth management centre in the world
- The average price of a gallon of gasoline in the United States rose 13 cents in the past two weeks due to a rise in the price of crude oil.
- Hong Kong and New York offer the lowest returns for offices among the world’s major markets even as prices increase because of demand for high-quality properties.
- Energy companies may be slow to cut oil production after a 50 per cent price drop because they need to service debt that has risen fourfold since 2003, according to the Bank for International Settlements.
- SINGAPORE ranks 10th globally in the inaugural Sustainable Cities Index from Arcadis, a global natural and built asset design and consultancy firm, faring lower than other Asia-Pacific cities such as Hong Kong and Seoul. However, it proves to be greenest in the region, being the only country in Asia-Pacific to emerge in the top 10 of the Planet sub-index.