Market Review for STI: Share prices opened flat with the Straits Times Index up 1.02 points to 3,419.04. Shares edged up in cautious trading as growing concerns over the possibility of Greece exiting the eurozone tempered buyer’s expectations. High of the day was marked 3434 and low was 3417.
STI Day Performance
% Change: +0.48%
Market forecast for STI: We may expect bullish trend above 3450.
Straits Time Levels
Support 1: 3384
Support 2: 3360
Support 3: 3340
Resistance 1: 3450
Resistance 2: 3470
Resistance 3: 3490
Technical Indicators: RSI is at 61and CCI is at 76.
Top Gainers: comfortdelgro.sg, sia.sg, jmh usd.sg, capitaland.sg, genting sing.sg
Top Losers: noble.sg, keppel corp.sg, thaibev.sg, sembcorp marine.sg, capitamall trust.sg
Important Factor for today:-
- Valuetronics Holdings’ earnings for the quarter ended Dec 31 rose 10.3% y-o-y to HK$39.2 million ($6.8 million) on a foreign-exchange gain and higher revenue
- Frozen fish supplier Pacific Andes Resources Development (PARD) posted, today, a 11.7 per cent fall in net profit to HK$128.2 million (S$22.4 million) for the first quarter ended Dec 28, 2014, down from HK$145.2.
- DBS Group Holdings, Singapore’s biggest bank, posted a 4.5 per cent rise in core fourth-quarter net profit and notched up record full-year earnings, but missed analysts’ estimates due to higher bad debt provisions and lower trading income.
- Brent crude prices steadied near US$58 a barrel on Monday as falling US oil rig counts and signs of healthy US growth offset concerns over the strength of the Chinese economy.
- A measure of Australian business conditions stayed subdued in January as manufacturers reported tough times, though a falling currency helped nudge confidence higher.
- Oil prices advanced further in Asia on Monday as dealers cheered signs of a dip in North American crude production, leading to rise in Asian trade.