Market Review for STI: The Straits Times Index (STI) stumbled right off the blocks to slip 15.61 points or 0.46 per cent at 3,382.65 Singapore stocks continue their downward slide following a slump in US equities, after the dollar gained amid speculation the Federal Reserve is moving closer to raising interest rates.
STI Day Performance
% Change: -0.55%
Market forecast for STI: STI has covered its previous gap so we may expect bullish rally in next trading session.
Straits Time Levels
Support 1: 3360
Support 2: 3340
Support 3: 3320
Resistance 1: 3440
Resistance 2: 3456
Resistance 3: 3480
Technical Indicators: RSI is at 43 and CCI is at -221.
Top Gainers: citydev.sg, sia.sg, capitaland.sg, starhub.sg, genting sing.sg
Top Losers: jardine c&c.sg, jsh usd.sg, jmh usd.sg, uob.sg, dbs.sg
Important Factor for today:–
- Asian stocks fell to a two-month low on Wednesday as nervous markets recoiled on worries about an earlier US interest rate hike, while such a prospect helped send the dollar to a 12-year high against the euro.
- Food Company Del Monte Pacific Limited (DMPL) was hit by a US$2.2 million net loss in its financial third quarter ended January 31, 2015, due mainly to acquisition expenses.
- Frasers Hospitality, the hospitality arm of Frasers Centre point Group, has opened its third property, Fraser Residence Kuala Lumpur.
- Gold hovered near its lowest in over three months hurt by consecutive losses in the last seven sessions as a robust dollar and expectations of higher US interest rates curbed appetite for the metal.
- Sembcorp Industries said that it is not in talks to acquire a 1,440 megawatt power plant in Odisha, India, from the GMR group.
- Noble Group declined to its lowest level in 17 months, wiping out gains since the commodities trader rejected criticism of its.
- A RETURN to risk-on mode or interest rate-related volatility may result in capital flight from the Singapore real estate investment trust (S-Reit) sector. If this happens, it would be a better opportunity to buy Reits, compared to the current situation where valuations are expensive.