1. Last Friday around lunch hour, Britain confirmed its referendum to exit from the EU. It was a close fight as the result was just about 3% difference. Straits Times Index reacted strongly on Friday as the vote counting progresses during the morning. From confidence of Britain remaining EU till ending decision of leaving EU; this caused STI to swing a big range of 2715 – 2807 levels during the day. In the early week, there was confidence in the air that Britain will remain in the EU. Hence, STI was seen climbing to as high as 2815 level on Wednesday. However, it faced resistance and started t

  2. US Fed meeting concluded last week and they had decided to keep the current rate. This did not impact the Straits Times Index much last week as the market is more concerned on another matter. The Brexit. Britain’s referendum on its position in EU is set to be discussing on 23 June this week. Many speculated that Britain’s exit will have a great impact on the whole economic situation as the Euro zone will be shaken greatly. This jittered the market on last Monday as the market opened with a strong gap down. There were attempts to rebound during the week but it was dominated by selling pressu

  3. Straits Times Index experienced a volatile week last week as series of uncertainties were talked about last week. Fed rate hike had been in the talk last week with many speculated that it will remain. In the meantime, oil prices were seen sustaining above $50 level and this sparks fears that it will not be sustainable. Hence, it is natural to see the market to spike upwards early last week but it failed to sustain at the end of the week. Currently, oil price concerns are dominating the volatility of the market. For the whole week, STI only gained a mere 13.74pts, ending at 2822.97 level.

  4. Straits Times Index continues to rebound last week as the market response in tandem with the rebound in Oil prices. Offshores and oil related counters continued to be the main contributor of the bullishness in the market. However, high volatility continues to be seen in the market as market participants start to be concern on US interest rate hike in the upcoming month of June. Stronger hints of interest rate hike in June are heard last week. Hence, many chose to stay cautious by staying out of the market. This explains the low trading volume last week. Despite these concerns, STI is still

  5. Rebound actions were seen in Straits Times Index last week as market participants were looking for bargains. 2740 support level was recovered during the week but volatility is still seen. The key motivating factor for the price surge is the rebound in oil prices. Offshores counters were seen recovering from their lowest. Other stock components were also able to continue their bullish streaks. However, as the month of June is getting nearer, market starts to get more anxious of the decision of US Feb government’s decision on its possible interest rate hikes. With this concern, STI’s upside w

  6. Straits Times Index managed to halt its decline after 2 weeks of substantial drop. Companies’ earnings report continued last week but most of the index component had finished reporting their earnings. Market participants seem to start digesting the new information from the latest earnings report which caused majority of them to stay sideline. Buying attempts were seen during the week but very often, they met selling pressure whenever it attempted to reach 2760 level. Therefore, STI was seen trading between a tight range of 2713 – 2766 levels during the week. Indecisive actions were definite

  7. Straits Times Index experienced another week of sell down as many quoted the euphoric phenomenon called “Sell in May and go away”. Some blamed the sell down to be triggered by concerns of world economic situation while some blamed the weak corporate earnings that were announced for the past few weeks. Personally, I deemed the weak market sentiment to be because of the weak corporate earnings that are being announced. On top of that, numerous component stocks had gone “Ex-dividend”; a pattern that I usually see it happening during the May period. With all the various reasoning, STI failed to

  8. Last week turns out to be a bearish week for Straits Times Index as first quarter earnings reporting season comes to a peak. Many companies suffered lower in earnings which could have cause market participants to exit the market last week. Concerns of US interest rate hikes continue to weigh on the market last week. Therefore, STI was seen not be able to go beyond 2950 resistance level despite its strong breakout at 2900 resistance level. Furthermore, it failed to stay above 2900 level last Tuesday. With the failure to hold above 2900 level, Traders starts to rush on the bearish side with c

  9. Straits Times Index managed a bullish week last week as the market enters the quarterly earnings season. Numerous companies were reporting lowering in earnings but this did not stopped STI from heading higher. It started the week by holding firmly at 2900 support level which it managed to break last week. This gave much assurance that STI’s underlying momentum is now bullish. Hence, it attempted to test its next resistance level at 2950 level. This resistance level was seen capping STI’s upside for the week. Therefore, STI closed the week at 2940.43 level with 16.49pts up.

    With more

  10. It was another bearish week for Straits Times Index as uncertainties of the global economic outlook and oil prices continue to linger on market participants’ mind. The week was seen trading in a tight range. It started with an attempt to rebound but it failed to sustain the rebound the next day as it faced resistance at around 2840 level where the 20 day MA line is. When the rebound failed to sustain, the support at 2815 level also failed to sustain. For the rest of the week, STI attempted to recover its support level at 2815 level but it failed to do so. Furthermore, there was also lacked