Corporate newsflow continues to be thin.
CapitaLand may be in focus after winning the top bid for a Bishan residential site. Technicals for the counter continue to be favorable.
Olam may see further support, after non-executive and independent directors Robert Michael Tomlin and Michael Lim announced open mkt share purchases.
Friday, November 30, 2012
Singapore market (30 Nov 12)
Singapore market: the bullish performance in the Europe and US markets yday may drive a firm open to the Spore market. Markets are choosing to hear the positive spin regarding the fiscal cliff for now, but note that sentiment could change on a dime, depending on the next comments from the politicians.
In the region, KOSPI is down 0.3% while Nikkei is up 0.1% at 8.17am.
Trading could be a little more volatile today, particularly towards market closing, due to month-end window dressing, as well as the MSCI index changes taking place across SE Asia. Recall, CCT has been added from the MSCI Spore Index, while Cosco, NOL will be removed.
Technically, the STI has cleared the 3,027 resistance-turned-support. Yday’s gap up and long white candle is a further positive signal. See next resistance at 3,087. The RSI and Stochastics continue to rise steadily along with volume traded, which bodes well for near term momentum.
Corporate newsflow continues to be thin.
CapitaLand may be in focus after winning the top bid for a Bishan residential site. Technicals for the counter continue to be favorable.
Olam may see further support, after non-executive and independent directors Robert Michael Tomlin and Michael Lim announced open mkt share purchases.
Corporate newsflow continues to be thin.
CapitaLand may be in focus after winning the top bid for a Bishan residential site. Technicals for the counter continue to be favorable.
Olam may see further support, after non-executive and independent directors Robert Michael Tomlin and Michael Lim announced open mkt share purchases.
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