On 28/July, Singapore shares end higher Wednesday as investors expect that China will not begin withdrawing monetary-stimulus policy anytime soon amid “double dip” fears
STI ended higher at 2985.4 (0.2%) with high VOL of 1.63 billion shares traded compared with 1.59 billion shares Tuesday. In the broader market, gainers outnumbered losers 253 to 188. The recent news of government not tightening their policy certainly helps to arouse interest in investors since STI volume has gone up for past couple of days.
Headline in STI
Before market close
CDL Hospitality Trusts said that they have achieved higher 2Q10 DPU of 2.57 Singapore cents compared to 1.89 cents a year ago and 2.32 cents in 1Q10.
Mapletree Logistics Trust (M44U.SG) reported that it has purchased three properties worth S$200 million in Japan from logistics facilities developer Kabushiki Kaisha A-Max.
After market close
Great Eastern Holdings Ltd. (G07.SG), the insurance unit of Singapore’s Oversea-Chinese Banking Corp. (039.SG) announced that its 2Q net profit fell 24% to S$74.4 million compared to S$97.7 million a year earlier due to the poor investment performance from its eurozone debt.
ARA Asset Management Ltd. (D1R.SG) reported that they have purchases two commercial properties worth S$310 million in Malaysia.
Technical Analysis on STI
Immediate Resistance of STI: 3000
Immediate Support of STI: 2959
MY sentiment on STI: Keep at sideline will be the best bet now as most traders will be watching if STI can break new highs in this week.
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