On 25/April, Singapore shares end lower Monday as investors are concern that China may continue to tighten its monetary policy.
STI ended lower at 3187.72 (0.2%) with LOW VOL of 1.06 billion shares traded compared with 1.46 billion shares Thursday. In the broader market, losers outnumbered gainers 267 to 163. Today STI merely under go light profit taking as market outlook continue to look positive.
Headline in STI
Before market close
Global Logistic Properties Ltd. (MC0.SG) has established a US$2 billion multi-currency medium-term note program and plans to issue up to CNY3 billion in fixed rate notes.
SEMBCORP has won a S$20 million deal to convert a liquefied natural gas (LNG) tanker to a floating storage and regasification Unit (FSRU).
After market close
Wing Tai Holdings Limited has joint venture with Singbridge Guangzhou Pte Ltd to develop a residential project in the Sino-Singapore Guangzhou Knowledge City.
Keppel Land’s chairman, Choo Chiau Beng, has rise its stake to 0.014% by buying 100,000 shares at S$4.43 each in the open market.
Technical Analysis on STI
Immediate Resistance of STI: 3214
Immediate Support of STI: 3180
MY sentiment on STI: The trend of STI continue to look positive as investors merely took profit under very low selling pressure. This affirms that investors continue to stay bullish on the earning results ahead. However we would not encourage to buy now since STI near to the critical resistance of 3214, instead do prepare to take profit off the table.
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