On 04/May, Singapore shares end lower Wednesday on fear as investors anticipated that Beijing will tighten policy soon.
STI ended lower at 3113.76 (1.3%) with regular VOL of 1.27 billion shares traded compared with 1.12 billion shares Tuesday. In the broader market, losers outnumbered gainers 348 to 127. Today STI continue to undergo heavy selling pressure with higher selling volume. This affirms that the selling has gained its momentum and index are likely to pull back more.
Headline in STI
After market close
StarHub Ltd. (CC3.SG) 1Q net profit surged 62% to S$69.1 million compared with S$42.7 million a year earlier as it reduced its costs.
Roxy-Pacific Holdings Limited 1Q net profit rose 11 per cent to S$10.04 million compared to a year earlier.
Technical Analysis on STI
Immediate Resistance of STI: 3180
Immediate Support of STI: 3145
MY sentiment on STI: STI broke its critical support at 3120 with higher volume. This is a very bearish signal. The next critical support that we will be watching now will be at 3040. Strongly discourage anyone who wish to enter now since we will be catching the falling knife. We will be watching the market everyday for any signs of easing in selling and we will inform though the blog once the signal is confirmed.
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