On 30/Aug, Singapore shares end higher Monday as Fed’s promise to prevent “double dip” at all cost boost the market sentiment.
STI ended higher at 2957.06 (0.6%) with LOW VOL of 1.38 billion shares traded compared with 1.36 billion shares Friday. In the broader market, gainers outnumbered losers 257 to 188. Today STI performed a very weak rally with only 58% of stocks in positive and relatively low trading activities. It seems that traders continue to remain side line for time being.
Headline in STI
Before market close
Singapore implements new policies to cool the property market after prices surged to record highs creating fears of a bubble.
Singapore plan to spend $44 billion over 10 years to increase the capacity of its subway network due to the huge immigration-driven population growth ahead.
Yangzijiang Shipbuilding (Holdings) Ltd has agreed on a joint venture company with Shanghai Bestway Marine Engineering Design Co., Ltd. & Jiangsu Zhongzhou Marine Equipment Co., Ltd to offer design services for shipbuilding.
Technical Analysis on STI
Immediate Resistance of STI: 3000
Immediate Support of STI: 2950
MY sentiment on STI: Today STI break through the resistance at 2950 in a weak manner, thus high chances that it may swing back within these few days.
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