On 22/Feb, Singapore shares ended lower due to heavy selling pressure for commodities trader Wilmar International.
STI ended lower at 2995.59 (1%) with regular VOL of 2.08 billion shares traded compared with 1.88 billion shares Tuesday. In the broader market, losers outnumbered gainers 245 to 176. Today STI fall slightly as investors booked profits following recent gains.
Headline in STI
Before market close
DBS Group Holdings Ltd. (D05.SG) has priced its issue of $1 billion fixed-rate senior notes due 2017.
Wilmar International Ltd. (F34.SG) 4Q net profit rose 56.9% to US$500 million compared with US$318.6 million a year earlier due to improved performances of its oilseeds and grains business, and contributions from its new sugar segment.
After market close
Singapore Airlines Ltd. (C6L.SG) cargo division has reduced freighter capacity by 20% because of high fuel prices and continuing weakness in demand.
Neptune Orient Lines Ltd. (N03.SG) 4Q net loss of US$320 million compared with compared with a net profit of US$177 million a year earlier due to continued pressure on freight rates and rising fuel costs hurt the container shipper’s bottom line.
Genting Singapore PLC (G13.SG) 4Q net profit of S$262 million compared to a S$150.3 million loss a year earlier, mainly due to higher earnings from its integrated resort, as well as lower impairment losses and taxes.
Technical Analysis on STI
Immediate Resistance of STI: 3005
Immediate Support of STI: 2936
MY sentiment on STI: Today STI broke the critical support at 3005 which affirms that bears has attempted to short and bring this support down. However the selling pressure is contained thus we would not be bearish on the situation yet. Tomorrow will be a better confirmation whether the bears can continue to dominate.
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