Market Review for STI: Share prices opened higher with the Straits Times Index up 16.94 points to 3,452.60.Shares held on to modest gains as investors awaited more developments in Europe, where Greece has until today to provide its creditors with a list of reform measures to secure financing. Trading activity was also subdued ahead of this afternoon’s Singapore Budget announcement.
STI Day Performance
% Change: -0.42%
Market forecast for STI: We may expect STI will move in the range of 3390 to 3350.
STRAITS TIME LEVELS
Support 1: 3385
Support 2: 3365
Support 3: 3340
Resistance 1: 3450
Resistance 2: 3480
Resistance 3: 3505
Technical Indicators: RSI is at 55and CCI is at 87.
Top Gainers:- OLAM INTL.SG, NOBLE.SG, DBS.SG, JARDINE C&C.SG, SGX.SG
Top Losers:- SINGTEL.SG, HONGKONGLAND USD.SG, SIA.SG, JMH USD.SG, THAIBEV.SG
Important Factor for today:–
- The consumer price index in January was expected to fall 0.3 per cent from a year ago, according to the median forecast in a Reuter’s poll of economists. Core CPI was seen likely to rise 1.3 per cent year-on-year.
- Airlines (SIA) dropped a position this year and ranked 19th in Fortune magazine’s annual list of the 50 most admired companies in the world.
- SINGAPORE inflation eased to -0.4 per cent in January from -0.1 per cent in December, mainly due to a sharp price declines of oil-related items as well as lower food and services inflation.
- Malaysian state fund 1MDB said on Monday that the refinancing of its debt will involve the finance ministry “as relevant and as required” after media reported that the government may inject up to RM3 billion (S$1.12 billion) into the fund.
- Oil rebounded in Asia on Monday as speculators hunted for bargains following a sharp decline last week, but analysts said prices remain weighed by an oversupply.
- Loan growth for the three Singapore banks is expected to be tepid this year, after having increased 5.8% in 2014 following four years of double-digit expansion.