1. Straits Times Index managed to stage a rebound last week as market participants started to digest the impact of Swiber’s fallout. The affected banks openly declared their exposure and plans for Swiber’s fallout. This leads to confidence in the market. Therefore, the banks recovered a little last week. Oil & Gas sector also managed to recover some losses last week. Hence, the market was able to rebound 39.23pts. Some speculated that it can be the feel good effect as Singapore celebrated its 51st birthday last week. This is what many called the National Day Rally effect. They h

  2. Straits Times Index continued its bearish streak last week as the market continued to talk on Swiber’s incident. Banks became the main focus of the week as many were speculating on the possible domino effect after Swiber’s fall. DBS, having the largest loan exposure in Swiber, faced an uphill task to be transparent to the market before its earnings announcement on 8 Aug. Market sold ahead of the earnings announcement which caused the index to fall deeper. Concerns are also on the Oil & Gas sector with many expecting further fallout in the industry. Therefore, STI fell 40.52pts during th

  3. Straits Times Index had managed to retrace strongly last week. Swiber’s decision to wind up its business had shocked the market last week. Oil & Gas sector was impacted as such winding up action implies the weakness in the sector. Furthermore, majority of the debt of Swiber is being financed by local banks. Hence, banking sector was also greatly affected. These 2 sectors had caused STI to lose a total of 76.66pts for the week. With this bearish action, it also means that STI’s resistance at 2950 level is being confirmed. Thus, causing STI to end the week 2868.89 level. Last Friday, Swib

  4. Straits Times Index extended its gains last week despite the lack of news to drive the bullish strength. Earnings reporting starts to increase in intensity during the week. Many had reported lower in earnings which did not stop STI from gaining strength. However, the bullish strength is not as strong as the previous week it is facing resistance at 2950 level. There were some selling pressure during the week but buyers are still willing to support the market. Hence, STI was able to end the week at 2945.35 level with 20pts up.

    With Earnings report nearing the peak this week, will STI b

  5. Straits Times Index turned out to be a pretty exciting last week. The week started with a break out action which broke the tough resistance at 2860 level. Breaking out of this resistance level indicates that STI is attempting to form an uptrend momentum. It succeeded in maintaining the break out on Tuesday by heading higher. There isn’t any bearish news that prevented the market from going higher; with exception of an abrupt trading halt on Thursday last morning. More than half of day was closed for trading as SGX’s trading system faced technical problem. However, this did not stop the mark

  6. Straits Times Index faced a week of cautiousness as many were searching for reasons to sustain the bullishness from the previous week. The week started with positiveness but it failed to sustain the next day. This is probably due to the public holiday in the middle of the week. With uncertainty in the market, traders are more reluctant to hold their positions over the weekends or holiday period. Trading volume fell during the week. This also shows that market participants are staying away last week. Furthermore, with US job data reporting last Friday, many traders decide to stay cautious an

  7. Brexit incident did not deteriorate the market like many expect it to be. Instead, it turns out to be a usual occurrence in the charts last week. Losses during the previous week were quickly being recovered last week as positive vibes returned to the market suddenly. Britain have yet to leave the EU; which came into awareness to many that it might even take years for this to happen. There were still debates in the EU currently, hence, conclusive decisions are hard to make currently. Therefore, the market could have decided to shift its focus towards other issues. US Fed have decided to dela

  8. 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

  9. 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

  10. 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.