On 23/Feb, Singapore shares ended lower with many of the region’s banks under selling pressure,
STI ended lower at 2968.34 (0.9%) with regular VOL of 2.18 billion shares traded compared with 2.08 billion shares Wednesday. In the broader market, losers outnumbered gainers 345 to 111. Today STI under heavy selling pressure as investors sell on fear of potential pullback.
Headline in STI
Before market close
Olam International Ltd. (O32.SG) has priced and launched an issue of Singapore dollar-denominated perpetual capital securities to raise S$275 million.
After market close
Singapore Technologies Engineering Ltd. (S63.SG) net profit rose 7.4% in 2011 to S$527.5 million from S$491 million in the previous year.
United Overseas Bank Ltd. (U11.SG) 4Q net profit fell 21% to S$558 million compared with S$706 million a year earlier due to mainly to the absence of one-time gains.
Sembcorp Marine Ltd.’s (S51.SG) 4Q net profit fell 4.3% to S$229.0 million from S$239.4 million a year earlier mainly because of lower operating profit from rig building.
Cosco Corp. (Singapore) Ltd. (F83.SG) net profit for 2011 fell 44% to S$139.7 million compared with S$248.8 million in 2010 mainly due to lower profit contributions from dry bulk shipping and higher costs incurred in its shipyard operations.
Technical Analysis on STI
Immediate Resistance of STI: 3005
Immediate Support of STI: 2936
MY sentiment on STI: STI has broken the support at 3005 convincingly as the recent earning reports disappointed investors and they took this chance to en-cash on their recent gains. Pullback is well expected at this moment.
Be The First To Comment