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. 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.
- 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.