Market Review for STI: Share prices opened lower with the Straits Times Index down 8.32 points to 3,418.84.Singapore shares were still mostly lower as investors stayed on the sidelines after an early selloff. With Greece and its creditors still nowhere near a deal to address its funding needs, and amid a shortened trading week for the local market, investors are likely to lie low for the rest of today’s session.
STI Day Performance
% Change: 0.41%
Market forecast for STI: Less volume in market because of Chinese New Year we may expect bearish trend in next trading session.
STRAITS TIME LEVELS
Support 1: 3380
Support 2: 3360
Support 3: 3340
Resistance 1: 3465
Resistance 2: 3485
Resistance 3: 3500
Technical Indicators: RSI is at 54 and CCI is at 13
Important Factor for today:-
- SINGAPORE’S overall labour productivity contracted by 1.5 per cent in the last quarter of 2014 – the third consecutive quarter of decline, and a worsening from Q3’s 0.9 per cent contraction.
- NON-OIL domestic exports (NODX) grew 4.3 per cent year-on-year in January, the third straight monthly increase. The NODX rose 0.8 per cent in November and 2.3 per cent in December
- GFI Group defeated a Singapore lawsuit by a former broker who sued over a six-month non-compete clause that prevented her from moving immediately to a rival in a similar role.
- THE Singapore economy grew a better-than-expected 2.1 per cent year-on-year in the fourth quarter of 2014, the Ministry of Trade and Industry (MTI) said on Tuesday morning, as the manufacturing sector contracted less than initially anticipated.
- Higher revenue and fair-value gains on investment properties lifted CapitaLand’s 4Q2014 earnings to $409.4 million from $142.6 million a year earlier.
- Logistics, commodity and engineering group CWT posted a 5 per cent gain in 2014 net profit as a margin squeeze in commodity marketing offset a jump in revenue.