On 26/Jan, Singapore shares end higher Wednesday as bargain hunter comes in to take advantage of the recent pullback.
STI ended higher at 3222.78 (1.2%) with LOW VOL of 1.88 billion shares traded compared with 1.79 billion shares Tuesday. In the broader market, gainers outnumbered losers 326 to 177. Today investors merely buy selective bargain stocks and market is trading under low volume. This rally is lack of conviction and the break of 3214 does not mean anything at all.
Headline in STI
Before market close
Spice i2i Ltd. (M09.SG) has acquired Indonesia’s Affinity Group, the owner and manager of mobile phone distributor Selular Group for $175 million.
Starhill Global REIT’s 4Q net property income rose 37% to S$36.7 million from a year ago due to the contribution from Starhill Gallery and Lot 10 in Malaysia, and David Jones Building in Australia, which were acquired in 2010.
CapitaRetail China Trust (CRCT) 4Q DPU rose 1.5% to 2.07 cents compared to 2.04 cents a year eariler.
After market close
Osim International Limited 4Q net profit doubled to S$16.93 million compared with S$8.13 million a year ago.
Technical Analysis on STI
Immediate Resistance of STI: 3250
Immediate Support of STI: 3214
MY sentiment on STI: We would prefer to monitor the status first since the rally for today is weak and may possible pullback below 3214 support level tomorrow
hi, why do you say that the rally is weak? which indicators? thanks!