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Market Review for STI: Shares edged down and the Straits Times Index (STI) was 5.9 points or 0.17 per cent lower at 3,476.80 despite Wall Street’s climb overnight.sti chart Shares were still mostly lower as investors cashed out on stocks that went ex-dividend and digested various earnings reports before planning their next move.
Market forecast for STI:We may expect STI will touch 3440 after that it will take rebound.
Technical Indicators: RSI is at 47 and CCI is at -87.
ECONOMIC FACTORS:

  • Oil prices edged lower in thin Asian trade as concerns over a global supply glut persisted, with few fresh leads for dealers to track.
  • SINGAPORE’S manufacturing sector contracted for a fifth consecutive month in April, according to the latest purchasing managers’ index (PMI).
  • Indonesia’s economic growth in the first quarter slumped to its weakest annual pace since 2009, hurt by slowing demand from major export partners and a drop in global oil prices, the statistics bureau said on Tuesday. 
  • Gold retained overnight gains on Tuesday but was stuck below US$1,200 an ounce as investors waited on US nonfarm payrolls later in the week for clues on when the Federal Reserve will hike interest rates.
  • KENCANA Agri will report a net loss for the three months ended March 31, the palm oil producer announced late on Monday.
  • Noble Group has brought forward its first-quarter results announcement by two days, but the Asian commodity trading giant under attack from a research firm over alleged improper accounting did not give a reason for the move.

Market Review for STI: shares opened lower, after European markets dropped on Tuesday with STI was down 5.69 points, or 0.16 per cent, to 3,489.40.Shares pulled back ahead of a statement from the US central bank later in the session, when it concludes its two-day policy meeting.

stiMarket forecast for STI: STI making bearish flag so bearish trend expected in next trading session.
Technical Indicators: RSI is at 55and CCI is at -9.
ECONOMIC FACTORS:

  • In a move to better handle the immense growth in data traffic, local telco StarHub will upgrade its core and access networks using what is known as software-defined networking (SDN) technology.
  • SINGAPORE-STANFORD Biodesign (SSB) and Dongguk University (DU) have inked a three-year “SSB-Korea Innovation Partnership” (SKIP) which will develop talent in medical technologies innovation.
  • Singapore Exchange (SGX) expects up to 20 Excluded Investment Products (EIPs) including exchange-traded funds (ETFs) to be accessible to retail investors without enhanced safeguards.
  • THE Monetary Authority of Singapore (MAS) has imposed civil penalties on Lim Oon Cheng and his niece, Lim Huey Yih, for insider trading.
  • Ho Bee Land’s net profit for the first quarter ended March 31, 2015 surged 181.6 per cent to S$11.56 million.
  • The Singapore Land Authority (SLA) is holding a public consultation to gather feedback on the possible uses for land under viaducts.
  • Parkway Life Reit turned in a 14 per cent year-on-year increase in distribution per unit (DPU) to 3.21 Singapore cents for Q1 2015 as distributable income rose 14 per cent to S$19.46 million.
  • Shares of QT Vascular gave up 5.5 Singapore cents or 20.37 per cent to trade at 21.5 cents after it gave an update on ongoing litigation cases. as down 5.69 points, or 0.16 per cent, to 3,489.40.
  • In a move to better handle the immense growth in data traffic, local telco StarHub will upgrade its core and access networks using what is known as software-defined networking (SDN) technology.
  • SINGAPORE-STANFORD Biodesign (SSB) and Dongguk University (DU) have inked a three-year “SSB-Korea Innovation Partnership” (SKIP) which will develop talent in medical technologies innovation.

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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 chart
STI Day Performance
Open: 3380.67
High: 3391.82
Low: 3369.42
Close: 3379.57
Change(Points): -18.69
% Change: -0.55%
Volume: 1255.3M
Rise: 106
Fall: 278
Unch: 401
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.

Market Review for STI:
China’s stocks rose to its biggest gain in a week as renewed economic optimism showed that new equity sales will divert from existing shares. China’s manufacturing Purchasing Manager’s Index from HSBC Holdings Plc and Markit Economics rose to 50.8. Singapore has expanded economic co-operation with Russia. Besides, Singapore’s increased inflation rate by 2.7% may boost share prices.

STI Day Performance
Open 3258.28
High 3269.17
Low 3256.17
Close 3262.03
Change(Points) 4.630
% Change 0.14%
Volume 1592.5M
Rise 231
Fall 168
Unch 693

Market forecast for STI:
After moving down over last week, Singapore Share prices opened near previous close with STI up 0.88 points to 3258.280. It formed an inverted hammer pattern for the day by making high at 3269.170. The whole day range was 12.67 points by making low at 3256.500 and closed at 3262.030. Green candlestick pattern showed that buyer’s sentiments dominated sellers. A bullish reversal is anticipated as it covered prices range under rounded top pattern for more than a month and inflation in Singapore may put further trajectory.
Technical indicators:
RSI stood below the centre line at 46.484 with its CCI at-125.18. Difference line of MACD performed at 5.189 which lied below its signal line which performed at 8.386.

STI LEVELS
Support 1 3246
Support 2 3236
Support 3 3221
Resistance 1 3279
Resistance 2 3289
Resistance 3 3304

Important Factor for today:-

  • Yoma Strategic Holdings has received an acquisition offer of 70% of land in Pun Hlaing Golf Estate (PHGE).
  • R H Energy is under the reverse takeover by Chiway Land Group to get listing on SGX.
  • Olam International reported a partnership with Mitsubishi Corporation of Japan (MC) to grow its Australian grains business for the investment of US$80 million to take an 80% equity stake in Olam’s wholly-owned subsidiary, Olam Grains Australia (OGA).
  • Nam Cheong sold two accommodation work barges worth US$84 million to repeat customer Perdana Petroleum BHD.
  • Singapore’s inflation rose to 2.7% in May.
Top Gainers Top Losers
Scrip Name CMP %change Scrip Name CMP %change
ComfortDelGro 2.5 2.88 HongkongLand USD 6.58 -1.05
SIA Engineering 5.09 1.6 Ascendas Reit 2.27 -0.87
CityDev 10.35 1.07 HPH Trust USD 0.715 -0.69
Golden Agri-Res 0.565 0.89 Olam Intl 2.44 -0.41
SingTel 3.83 0.79 Global Logistic 2.66 -0.38