On 29/July, Singapore shares continue to end higher Thursday as Euro zone reported that its economic sentiment indicator rose to 101.3 in July from an upwardly revised 99.0 in June.
STI ended higher at 2997.7 (0.41%) with average VOL of 1.40 billion shares traded compared with 1.63 billion shares Wednesday. In the broader market, gainers outnumbered losers 259 to 187. As STI approaches its major resistance at 3000, the trading volume continues to decrease as cautious investor keep sidelining looking for more outcomes.
Headline in STI
Before market close
CapitaMalls Asia Ltd. (J58.SG) said they have S$3 billion war chest which can be used to purchase and build assets in Singapore, China and Malaysia.
Broadway Industrial Group’s (B69.SG) 2Q10 net profit improved 34.9% to S$10.3 million on increased margins, turnaround in non-hard disk drive business, S$2.9 million FX gain.
After market close
Hongkong Land Holdings Ltd. (H78.SG) said their 1st six months net profit ended June 30 rose 70% to US$477 million compared to US$281 million a year earlier due to strong growth in residential property sale.
Technical Analysis on STI
Immediate Resistance of STI: 3000
Immediate Support of STI: 2959
MY sentiment on STI: As STI now at the tip of major resistance at 3000, traders will be watching closely and may buy on break out accompanied with high volume. If the resistance managed to breach, it will certainly inject a strong confidence for the investors on Singapore economics growth.
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