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STI to cross 3000 boosted by long-term investors
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BullsAndBear
Veteran |
13-Dec-2013 12:00
Yells: "I come at the turn of the tide " |
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x 0 Alert Admin |
Another white candle stick for today ? Half time now. Lets see if bargain hunting returns in the 2nd half. |
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guoyanyunyan
Supreme |
13-Dec-2013 11:47
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Citi Strategy 2014: Singapore a Relative Pick as ASEAN Consolidat es■ Catching up as ASEAN consolidates-While the STI Index (-2% YTD through 6 Dec) has underperformed Philippines and Malaysia, there has been a degree of relative outperformance for Singapore in the past six months as the US tapering phase gets priced in. We expect this relative trade to continue into 2014. Singapore, which had been hit earlier by slower momentum as its growth model rebalanced over the past two years, is now relatively more attractive as the pace of GDP growth picks up and currency, CAD woes and politics get in the way of neighbours Malaysia, Indonesia and Thailand. We expect GDP growth of 3.5% and 4.0% in 2014 and 2015 respectively post 4.0% in 2013 and 1.3% for 2012. We are looking for mild upside for the STI in 2014 - our Gordon Growth derived STI target is 3,278, translating to a P/E of 15.6x. The STI is now trading at ~14.7 P/E, below the historical mean of 15.2x and at 1.3x fwd P/B (below -0.5SD). |
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WanSiTong
Supreme |
13-Dec-2013 11:20
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Straits Times Index (FSSTI Index) Last done : 3,059.04 Resistance : 3,120 Support : 3,025 The STI is currently hovering at its trendline which could be acting as a support on the immediate basis. It is important right now for the STI is to close within the region of 3,040- 3,070 and follow through with a rebound or at least consolidate within the said region. Currently its 14-day RSI indicator has a reading of 22 and may rebound from its oversold region should it react in the same
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WanSiTong
Supreme |
13-Dec-2013 10:37
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My Market View The views expressed here by the contributor does not belong to ShareJunction. Daily Market Opinion for 13-Dec-2013 Contributed by Jay Chia 13-Dec  Daily Market Opinion for 13-Dec-2013 Further selling pressure was seen in STI yesterday but bargain hunters came in to support the market late in the day. STI gap down strongly in reaction to the bearish closing of DJI on the previous night. Sellers were eager to exit the market during the morning session as fears continue to overwhelm the market. A low of 3025 level was reached before slight rebound started. After lunch hours, STI started to rebound further and head towards 3060 level again. A high of 3063 level was then formed nearing to the closing hours. At the closing bell, STI managed to close at 3059 level with merely 1.7pts down. Trading volume had grown above average yesterday. Last night, DJI continues to head south by dropping 104.10 pts. Will STI continue to attempt to trade lower today? Or will rebound continue from yesterday? Yesterday?s price action had shown that STI is facing support pressure yesterday. 3060 support level was being breached but the market had attempted to support it yesterday. Although STI had close 1pt lower, 3060 support level might still have a good chance to hold if STI is able to close higher than this level today. Digging deeper, STI is actually supported by the next support level at 3030. This could be a better support for STI to form its lower low formation. Short-term indicators continue to show bearishness yesterday despite a white candle closing. This indicates that the momentum is still bearish and will likely to continue further. Hence, 3060 level might not be able to hold as support and instead, 3030 support level will be tested. The banks were refusing to drop lower yesterday despite their gap down opening. Dbs had tested not only its support at 16.50 level, it had also tested its 200ma line at 16.40 level. Both of these support levels held well and an intraday rebound was staged. Bullish reversal pattern was formed but upside confirmation is needed. If Dbs is able to rebound above 16.65 level, then a lower low formation will be forming. Otherwise, it will likely to continue to consolidate at 16.50 support level. Uob also managed to stage in intraday rebound as it support at 20.00 held firmly. The previous support at 20.30 level was even recovered yesterday. Similar to Dbs, it must stay supported in order to stage a rebound. Ocbc was the only one that did not stage an intraday rebound yesterday. Ocbc decided to slide further yesterday and could be heading towards its next support at 9.65 level to test it today. Overall, the banks are holding well at their support level but they are likely to continue to test their support levels today. The properties continue to sink further yesterday but are testing their support levels. Citydev had tested its support around 9.50 level yesterday. This support is holding well yesterday but there is still threat that it might be broken today. If this fails to hold, Citydev will be testing its next support at 9.30 level. Kepland is now nearing its weekly low level of 3.30 level and could be testing this level soon. It will likely to continue to slide downwards till the level is being tested. Capitaland is creeping downwards slowly with 1pts at a time. Its support around 2.90 level is still yet to be tested and it will likely to take some time to reach that level. Overall, the properties are likely to continue to head towards their support levels to test it. The offshores were seen staging strong intraday rebound but they still ended up in red. Kepcorp broke its support at 10.85 level yesterday and tested its next support at 10.70 level yesterday. This support held well and caused an intraday rebound back to 10.85 level. There was no clear sign of whether Kepcorp will be going back above 10.85 level but it will likely to continue to hold its support at 10.70 level. Sembcorp also failed to hold its support at 5.20 level and tested its support at 5.11 level yesterday. This support held strongly and staged an intraday rebound towards 5.20 level again. Sembcorp will likely to trade in this tight range of 5.11 ? 5.20 level today. Sembmar continues to trade in the tight range between 4.25 ? 4.30 level. 4.25 support level was seen holding well and it will likely to continue to hold Sembmar today. Overall, the offshores are likely to continue to consolidate at their new support levels today. The commodities were trading mixed yesterday. Wilmar was seen attempting to trade lower but its support at 3.37 level held well. Wilmar will likely to continue to consolidate at 3.37 support level today. Noble grp managed to test its support level at 1.01 yesterday. Its price action had confirmed that Noble grp is forming a downtrend and it will likely to start trading lower. Next support level at 0.97 will soon be tested once 1.01 support level breaks. Indoagri also tested its support at 0.855 level yesterday and this price action had confirmed that Indoagri is no longer uptrend. Further consolidation will likely to happen for Indoagri at 0.855 support level today. Overall, the commodities will likely to continue to consolidate at their support levels. In conclusion, STI had held well at its support of 3030 level yesterday. This support level will likely to continue to hold well as all the sectors were also holding well at their support levels. It will unlikely to break so soon as it?s white candle formation yesterday have indicated that this support level is going to be a strong one. If STI is able to trade higher than 3060 level, it will mean that its lower low had been formed and further rebound will be happening. However, various sectors are still not ready for the rebound to happen and hence, STI will likely to continue to consolidate at 3030 level before a proper rebound can happen. Long traders can start to watch for counter-trend opportunity. Shortists should start to be eager to take at least partial profits and avoid going on the short side. |
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WanSiTong
Supreme |
13-Dec-2013 10:22
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SINGAPORE DAYBOOK :Investors will watch response to riot: PM FOREIGN investors are watching closely to see how Singapore responds to last Sunday's rioting in Little India, said Prime Minister Lee Hsien Loong yesterday. The incident has triggered much interest from abroad, and understandably so because the incident was such an " unusual" event for the country, he told reporters in Seoul at the end of his two-day official visit. Two South Korean investors whom Mr Lee met during his trip expressed surprise about the riot - Singapore's first in 44 years - and were eager to hear his views on the situation. " (They) wanted to have an interpretation (of) what I thought of it, what caused it and what the Singapore government is going to do about it," said Mr Lee in his first extensive comments on the riot that involved about 400 foreign workers. And with many international media agencies having reported on the event, it is all the more important that Singapore be " very proper" in its response not just the government but citizens, for their part, need to be responsible and measured in their reactions. Mr Lee felt that Singaporeans, though shocked at what had happened, have reacted peacefully and calmly so far. His message to the country was to refrain from making unhelpful comments that could make things worse. " Whether online or anywhere else, we have to exercise some restraint. The anxiety and the alarm is quite understandable but if we express ourselves in unrestrained, unreserved terms and sometimes xenophobic terms even - on the Internet you've seen quite a lot of those - I don't think that is helpful," said the prime minister. While he promised that the authorities would bring the perpetrators to justice, he said the rule of law must still apply. " (The riot) has happened, it is bad, we have to deal with it very firmly. (It) is quite unacceptable and there is no reason or justification whatsoever for people to behave like this in Singapore," said Mr Lee. " But at the same time, we have to be fair to the persons who were not involved. And even for those who were involved, there has to be a due process of law," he added. When asked if there would be any repercussions on Singapore's foreign worker policy, Mr Lee would only say that the country could not do without this group of people who have helped the country prosper. " We need the foreign workers. They are here because they are working for us, building trains and houses, working in the shipyards," he said. " If we didn't have them, we would not be able to achieve our housing or public transport plans, and Singaporeans would be severely affected. We need the foreign workers, and we have to see how we can manage them better," said Mr Lee. Putting things into perspective, he noted how there are currently more than a million foreign workers in Singapore, 400 of whom were involved in what he called a " localised" riot. Those found guilty would be treated severely, but for the vast majority of the foreign worker population who are here to make a living and contribute to the Republic's economic growth, he said it would not be right to tar them all with the same brush. " It would be quite unfair for Singaporeans to look at them all and say they are a problem and we cannot accept them. That is not correct, I think that's not wise," said Mr Lee. Most of them are law-abiding people. Mr Lee revealed that the government gets a regular update on the number of foreign workers here and other information such as their living arrangements and personal situations. Their crime rate is also lower compared to Singaporeans on average. Meanwhile, the government will study measures to maintain security and order in the Little India area, including how the transport flow could be made safer for all. For a start, a 48-hour alcohol ban will be effected, starting at 6am tomorrow. Mr Lee also said that details on the Committee of Inquiry set up to look into the riot would be announced in the next few days, including the names of those on board and the terms of reference. (Source: The Business Times) MARKET SCOOP Airlines seen making US$12.9b profit this year SingTel's mio TV fined S$220,000 for May outage Samsung helps Android beat iPhone in mobile ad market share AusGroup halts trading to address speculation Singapore's Keppel says to build first drillship, but no buyer lined up (Source: The Business Times) |
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Octavia
Supreme |
13-Dec-2013 09:27
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Immediate support lies at the 2,990 base, set in Aug, while upside resistance is around 3,100 | |||||||||||||||||||||||||||||||||||||||||||||||||
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Octavia
Supreme |
13-Dec-2013 09:21
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The S?pore market is likely to open flat, in line with most regional bourses as traders take to the sidelines ahead of any key decisions coming out of the Fed on Dec 17-18. | |||||||||||||||||||||||||||||||||||||||||||||||||
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GorgeousOng
Supreme |
13-Dec-2013 07:51
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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House approves bipartisan budget proposal |
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BullsAndBear
Veteran |
13-Dec-2013 07:49
Yells: "I come at the turn of the tide " |
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Yup yup, expected the unexpected. Actually tapering is good for us. Just that it will probably cause a knee jerk reaction, because global growth is poised to grow by the largest margin in 2014. Singapore being an export oriented base economy should benefit from the growth. I'm all for green today ! Huat ar! Haha | |||||||||||||||||||||||||||||||||||||||||||||||||
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handongni
Elite |
13-Dec-2013 07:42
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like that ya. can it be the system double cheated you leh.
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GorgeousOng
Supreme |
13-Dec-2013 07:17
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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One more day... Expect the unexpected !!! |
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WanSiTong
Supreme |
13-Dec-2013 06:09
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U.S. Stocks Drop to One-Month Low on Fed Bets After Data  Click here for more market data. U.S. stocks fell a third day, sending the Standard & Poor?s 500 Index to a one-month low, as improving economic data spurred speculation the Federal Reserve will cut stimulus as early as next week. The S& P 500 fell 0.4 percent to 1,775.50 at 4 p.m. in New York, extending a three-day decline to 1.8 percent after closing at a record on Dec. 9. The Dow Jones Industrial Average dropped 104.10 points, or 0.7 percent, to 15,739.43, also a one-month low. About 6.3 billion shares changed hands on U.S. exchanges, 3.3 percent above the three-month average. ?We?ve had a lot of pretty good economic news lately and in the face of that data we?re seeing the market starting to digest the exuberance it has had in 2013,? Randy Bateman, who oversees $15 billion as chief investment officer of Huntington Asset Advisors in Columbus, Ohio, said by phone. ?A lot of it might be in anticipation of the FOMC announcement next week and whether this good economic news is enough for the Fed to start its tapering process.? The S& P 500 (SPX) fell 1.1 percent yesterday after a federal budget accord fueled concern that the Fed may begin tapering bond buying earlier than forecast. Central-bank policy makers have been watching fiscal events in Washington and scrutinizing economic data to determine whether growth is robust enough to withdraw some stimulus. Economic DataData today showed retail sales rose more than forecast in November as Americans bought cars and took advantage of discounts going into the holiday-shopping season. A separate report indicated applications for unemployment benefits jumped last week from an almost three-month low. The Bloomberg Consumer Comfort Index advanced for a third straight week as Americans grew more optimistic about the economy. Data last week showed the jobless rate fell to a five-year low and the economy expanded in the third quarter at a rate faster than initially estimated. ?The economic news has been generally pretty good and the Fed has supposedly has been waiting for better economic news,? John Carey, a fund manager at Pioneer Investment Management who oversees about $200 billion, said in a telephone interview. ?There was an expectation a few weeks ago that the Fed might wait until February or March. But now with good economic news, it?s starting to seep into the market that the Fed could start tapering earlier than that.? Fed BetsThe Fed will probably start reducing its $85 billion of monthly bond purchases at its Dec. 17-18 meeting, according to 34 percent of economists surveyed Dec. 6 by Bloomberg, up from 17 percent in a Nov. 8 poll. The S& P 500 has surged 24 percent this year, poised for the best annual gain since 2003, as the Fed refrained from reducing its monthly bond purchases. Three rounds of monetary stimulus from the central bank have helped drive the equity index up more than 160 percent from a 12-year low in 2009. The gauge has fallen 1.7 percent this month, leaving it on track for the first December decline since 2007. The final month of the year has been the second-best for U.S. equity returns, according to data compiled by Bloomberg that starts in 1928. The average gain for the month is 1.5 percent, more than twice the overall monthly mean of 0.6 percent. ?There will always be year-end adjustments,? Bateman said. ?We?ve had a strong year and a lot of the professional investors want to capture the returns they?ve experienced and to protect the strong moves as opposed to think the market will continue with the same buoyancy as we saw in 2013.? Stocks often enjoy a nice rally in December but after a record-breaking run for the Dow and S& P 500, the so-called Santa Claus rally has yet to materialize. The S& P 500 has fallen 1.5% so far this month. |
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WanSiTong
Supreme |
13-Dec-2013 06:02
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World MarketsNorth and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 0.11%, while the IPC led the S& P 500 lower. They fell 0.44% and 0.38% respectively. North and South American Indexes
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Wisely
Senior |
12-Dec-2013 21:51
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Was expecting a bloodshed today....somehow managed to turn tables. Anyway wont invest in any stock after Fed meetings. Still holding on to counters like GA, Midas and of course Fuxing. Not holding alot just 20 lots of each.
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BullsAndBear
Veteran |
12-Dec-2013 21:49
Yells: "I come at the turn of the tide " |
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Haha made the same error as well. Nevermind down 1.7 points, its as good as closing flat. Lets see if a rebound happens tomorrow ! Finger's cross. Huat Ar !! |
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WanSiTong
Supreme |
12-Dec-2013 21:41
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Kam Seah for your support.......Huat arh....
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handongni
Elite |
12-Dec-2013 21:37
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haha lucky you no angry hor i say you know or not. you've good eq. can see you'll become real good Master one day. cheers.
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WanSiTong
Supreme |
12-Dec-2013 21:20
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In fact I double ckecked the STI at 5.08
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WanSiTong
Supreme |
12-Dec-2013 21:18
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SJ Master Bo Pa ka one..... Lol
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bishan22
Supreme |
12-Dec-2013 20:59
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Today closed with a white candle after so many blacks. Selling over ??? Have yet to see. Good luck. | |||||||||||||||||||||||||||||||||||||||||||||||||
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