1. 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

  2. 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

  3. 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

  4. 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

  5. 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

  6. 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

  7. Profit taking continues to be seen in the market last week. Market participants are lacking of confidence to hold on to their positions are many are anticipating further bad news. There was a strong rebound during the mid of the week but it failed to sustain. Moody had downgraded the banks of Singapore to negative rating. This caused the bank stocks to face downward pressure after the report. Support level at 2815 level was tested twice during the week and it managed to hold well. In the current sentiment, it will be hard for market participants to find reasons to buy. Hence, STI closed at

  8. Profit taking pressure starts to be seen last week as Straits Times Index failed to sustain above 2900 level. The week started with profit taking pressure which pushed STI back below 2900 level on Monday. There was some reluctance in dropping further for the next few days as it continues to attempt to test 2900 level. However, last week was a short week. Many were afraid of the weekend risk and decided to exit the market. This caused strong selling pressure to happen last Thursday which caused STI to fall further for the week. Hence, it ended at 2847.39 level with 59.41pts down.


  9. The Straits Times Index ignored previous week’s bearishness and decided to head higher last week. Many positive leads had helped to lift up STI mood last week. The key talking point last week was US Fed’s meeting on its possibilities of interest rate hike. As expected by the market, they decided to put the interest rate hike on hold and delay to a much later date to discuss. Oil prices also help to lift the sentiment last week. The rebound managed to sustain and this helped oil related companies to gain some bullish traction. Hence, STI was seen pushing higher during the last 2 days of the

  10. The Straits Times Index faced volatility last week as market participants doubted on the sustainability of the recent bullish surge. The week started with profit taking pressure which pushed STI lower for 2 consecutive days. However, many are still hopeful of the market recovery as positive sentiments are derived from the aftermath of a series of economic stimulus policies from various countries in the world. Oil prices also managed to stabilise after profit taking pressure. Hence, STI was seen being able to stay around 2815 level for the rest of the week. A new support level seems to be fo