STI these 2 days have been indecisive. Watch bulls or the bears to win the tug of war.
Note the day high level of Tuesday and then the day low level of Wednesday, then see where the price go to breakout either this level, this will be the direction.
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STI edged higher by 6.69 points (0.26%) to close at 2612.25.
On the day chart, it retraced back during the last 2 trading hours under its triangle top resistance after spending there for 2 hours.
2,612.250 +6.69 (0.26%)
STI up 0.3%, Covid-19 continues to dent investor sentiment
16 Apr 2020 17:41
By Claudia Tan
The Straits Times Index ended Thursday up 6.69 points or 0.3 per cent at 2,612.25 points.
The blue-chip index rebounded slightly by afternoon after opening lower on the back of overnight losses on Wall Street and Europe.
Elsewhere in Asia, Malaysia, Hong Kong and Japan ended lower as the pandemic continues to weigh on investor sentiment.
?The risk-off atmosphere engulfed markets once again as global coronavirus cases climbed to two million, with the trail of carnage to show in the form of the latest economic and earnings data,? said IG market strategist Pan Jingyi.
The earlier cheer from the better-than-expected Chinese data had worn off by Wednesday, following a series of ?disappointing US data, soft earnings numbers and slump in crude oil prices?, she said.
Across the Singapore market, advancers outpaced decliners 248 to 187 for the day, with 1.22 billion shares worth S$1.25 billion changing hands.
The best performer among the index?s constituents was Yangzijiang Shipbuilding, which gained S$0.03 or 3.0 per cent to S$1.03.
The banking trio were among the nine index counters that ended in the red. DBS and UOB shed 0.6 per cent to S$19.38 and 0.7 per cent to S$20.14 respectively; OCBC fell 0.3 per cent to S$8.87.
The most heavily traded stock was Genting Singapore, which closed at 75.5 Singapore cents, gaining S$0.01 or 1.3 per cent.
Outside the STI constituents, agri-food company Japfa emerged as one of the top gainers. Japfa shares jumped S$0.05 or 9.8 per cent to S$0.56, following an announcement the previous night that it is looking to sell a 25-per-cent stake in its China dairy business to Japanese conglomerate Meiji for some US$254.4 million.
STI u-turned back to close under its triangle top resistance today. It gap and moved up before fading into deep negative day low of 2591.16 points. STI managed to par some loses however it still shed 29.01 points ( 1.10%) to close at 2605.56
2,605.560 -29.01 (-1.10%)
STI down 1.1% despite Wall Street rally
15 Apr 2020 17:39
By Claudia Tan
SINGAPORE equities were mostly lower on Wednesday, after failing to sustain its morning gains.
The Straits Times Index fell 1.1 per cent or 29.01 points to 2,605.56.
This was despite an overnight rally on Wall Street that was prompted by signs of Covid-19 cases coming to a plateau in the United States.
Stephen Innes, AxiCorp?s chief global markets strategist, noted that a V-shaped recovery is still far from sight and ?there is still much to be worried about?.
?As virus curves continue to flatten, attention turns to when lockdowns can end. At the moment, evidence suggests that governments will continue to tread carefully until otherwise confirmed,? he said.
Across the Singapore market, decliners outnumbered advancers 248 to 190 for the day, with 1.39 billion shares worth S$1.58 billion changing hands.
Jardine Strategic Holdings emerged as the best performing stock, gaining US$0.54 or 2.3 per cent to US$24.04.
At the bottom of the STI?s performance table were City Developments and SATS, which fell 5.6 per cent to S$7.48, and 4.4 per cent to S$3.01 respectively.
The most active index counter by volume was Singtel, which fell S$0.02 or 0.7 per cent to S$2.80.
Among other heavily traded stocks was Genting Singapore, which closed flat at 74.5 Singapore cents. OCBC Investment Research had a ?buy? rating for Genting Singapore on Wednesday, noting that government support and the firm's strong balance sheet will help it weather the economic crisis.
Meanwhile, all three banks closed in the red. DBS shed S$0.36 or 1.8 per cent to S$19.50, OCBC fell S$0.22 or 2.4 per cent to S$8.90, while UOB closed at S$20.28, down S$0.42 or 2.0 per cent.
With the exception of Malaysia which ended higher, the STI's performance was in line with regional benchmarks.
STI surged +67.32 points (2.62%) to close at 2634.57. STI's closing number is the highest since 12th March 2020.
On the daily, it broke out of its horizontal resistance to close higher on its uptrend parallel channel mid-line after some minor profit-taking.
2,634.570 +67.32 (2.62%)
STI rebounds from muted session, up 2.62% 14 Apr 2020 17:43 By Claudia Tan
SINGAPORE shares closed higher on Tuesday after Monday?s subdued session, amid a lack of fresh leads for traders. The Straits Times Index gained 67.32 points or 2.62 per cent to 2,634.57.
This comes as China reported better-than-expected trade data. Exports in March fell 6.6 per cent compared to the year-ago period - more favourable than the 14 per cent forecast. On the other hand, imports dipped 0.9 per cent compared to the expected 9.5 per cent plunge.
But Stephen Innes, AxiCorp?s chief global markets strategist, pointed out that the better figures were due to backlogged export data, which likely skewed the export component higher.
Also boosting sentiment for Asia was the announcement that critical states in the US are working to develop reopening protocols post-peak-virus, said Oanda?s Asia-Pacific senior market analyst Jeffrey Halley.
Against such a backdrop, benchmarks elsewhere in Asia also extended gains; China, Japan, Hong Kong, Malaysia and South Korea ended higher.
Across the Singapore market, advancers trumped decliners 367 to 122, with 1.70 billion securities valued at S$1.55 billion traded.
All but two of the STI constituents ended in the black. Dairy Farm International and the Singapore Exchange posted losses, slipping 1.63 per cent to US$4.83 and 1.73 per cent to S$9.67 respectively.
The best performer among was Mapletree Commercial Trust, with shares jumping S$0.11 or 6.63 per cent to S$1.77.
The most active STI counter was Yangzijiang Shipbuilding, which edged up S$0.05 or 5.32 per cent to S$0.99. Singtel was also among the most actively traded stocks, gaining S$0.08 or 2.92 per cent to S$2.82.
The banking trio also outperformed the benchmark. DBS rose S$0.58 or 3.01 per cent to S$19.86, and UOB gained S$0.52 or 2.58 per cent to S$20.70; OCBC reversed yesterday's losses, gaining S$0.20 or 2.24 per cent to S$9.12.
Source: Business Times Breaking News
Source and recommended reads
https://sginvestors.io/market/sgx-share-price-performance/straits-times-index-constituents
https://sginvestors.io/market/sgx-breakout-price-3-month-high-volume-above-average
https://sginvestors.io/market/sgx-breakout-price-3-month-low-volume-above-average
https://www.investingnote.com/posts/1852141
Singapore business news
https://www.businesstimes.com.sg/stocks
https://www.straitstimes.com/business/companies-markets
https://www.theedgesingapore.com/
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