On 31/Aug, Singapore shares end lower Tuesday as overnight decline on Wall Street prompt investors to head for safety
STI ended lower at 2950.33 (0.2%) with regular VOL of 1.67 billion shares traded compared with 1.38 billion shares Monday. In the broader market, losers outnumbered gainers 329 to 153. Today STI ended with higher volume compared to recent trading sessions with 68% of stocks in negative zone. These indicate that confidence of the investors has been shaken and could possibly trigger another sell down.
Headline in STI
Before market close
Ezra Holdings Limited will issue one-for-five rights priced at S$1.18 each to raise up to S$168.4 million
Kim Eng Holdings Limited fails to reach the agreement on the possible strategic investment in the stock broking business of Inter-Pacific Securities Sdn Bhd.
Yongnam Holdings Limited has won the first contract for the MRT Downtown Line 2 valued at S$25 million.
Technical Analysis on STI
Immediate Resistance of STI: 2950
Immediate Support of STI: 2915
MY sentiment on STI: Today STI pullback and closed right at the resistance/support at 2950. We suspect that STI may re-test 2915 in short term and encourage investors to watch out for this support.
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