On 27/Aug, Singapore shares end higher Friday though investors remains cautious ahead of 2Q U.S. GDP data and announcement by Fed Ben Bernanke on global economy growth.
STI ended higher at 2938.74 (0.4%) with LOW VOL of 1.36 billion shares traded compared with 1.33 billion shares Thursday. In the broader market, losers outnumbered gainers 220 to 208. STI ended higher but 51.4% of stocks in fact ended negative with low trading volume. This is the signal on lack of conviction in the today’s rally and investors mainly bargain hunting.
Headline in STI
After market close
F J Benjamin Holdings Ltd has got the sale and purchase agreement with Catherine Deane to which acquired 829,253 shares worth HK$1.00 each in the capital of Arcangel Limited representing 60% of the Target’s issued share capital from the Vendor.
GuocoLand Ltd. (F17.SG) will issue a 1-for-3 rights issue to rise about S$532.5 million. The company will sell about 296 million shares at S$1.80 each in the rights issue which stands for a discount of 15.9% to the closing price of S$2.14 on Thursday.
Technical Analysis on STI
Immediate Resistance of STI: 2950
Immediate Support of STI: 2915
MY sentiment on STI: See weekly outlook tomorrow.
Be The First To Comment