On 21/Feb, Singapore shares ended higher after report on the euro-zone’s agreement on a second Greek bailout.
STI ended higher at 3025.07 (0.13%) with LOW VOL of 1.88 billion shares traded compared with 2.21 billion shares Monday. In the broader market, losers outnumbered gainers 213 to 203. Today STI perform a relative weak rally as a lot of the stock has already been priced in.
Headline in STI
Before market close
Tiger Airways Holdings Ltd. (J7X.SG) 33%-owned Mandala Airlines will resume flights in April, after Indonesian authorities reactivated Mandala’s air operator’s certificate.
DBS Bank (D05.SG) plan to sell a benchmark five-year senior dollar bond in the near future.
After market close
Hutchison Port Holdings Trust (NS8U.SG) 4Q net profit at HK$608.2 million which came in 3% above its forecast net profit of HK$592.9 million for the quarter had managed to increase throughput volume in 2011, despite the challenging business environment.
Technical Analysis on STI
Immediate Resistance of STI: 3077
Immediate Support of STI: 3005
MY sentiment on STI: A candle stick with long lower shadow similar to “Hanging man” occurred today which affirms to the weakness in rally and investors began to take profit. However STI managed to hold above the 3005 for support. Maintain view of selling on overbought market.
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