Singapore share prices opened higher with the Straits Times Index (STI) up 6.31 points to 3,478.69. Singapore shares advanced on Wall Street’s rise last Friday and on speculation that the recent rally in Hong Kong and China will spill over to the local market. Singapore shares were still mostly higher, with small caps again accounting for a big part of the action in the market.
STI Day Performance
% Change: +0.35
Market forecast for STI: We may expect STI will be bullish trend in next trading session.
STRAITS TIME LEVELS
Support 1: 3400
Support 2: 3374
Support 3: 3359
Resistance 1: 3493
Resistance 2: 3493
Resistance 3: 3493
Technical Indicators: RSI is at 70 and CCI is at 116.
Important Factors for today :
- The World Bank cut its 2015 growth forecasts for developing East Asia and China, and warned of “significant” risks from global uncertainties including the potential impact from a strengthening dollar and higher US interest rates.
- Gold steadied above US$1,200 an ounce today after rising more than 1 per cent in a chart-based rebound the session before.
- Global InfoTech Co, an associate of Silverlake Axis, has received approval from the China Securities Regulatory Commission for a listing.
- The Monetary Authority of Singapore uses the country’s exchange rate as its main monetary policy tool, the only major economy in the world to do so. Singapore’s central bank announces its monetary policy decision, regarding currency bands, widths, slopes and centres.
- The Singapore trading hubs of the world’s largest commodity companies are coming under scrutiny from the governments of some resource-producing countries who say they suspect they are using units in the Southeast Asian financial centre to avoid tax.