Wednesday, 31 May 2017

Daily SGX Markets Briefing for Singapore traders

The Straits Times Index (STI) finished 9.76 focuses or 0.3% lower to 3204.79 on Tuesday, taking the year-to-date execution to +11.25%.

As per SGX's Daily Market rundown, the top dynamic stocks were Singtel, which increased 0.27%, OCBC Bank, which declined 0.29%, DBS, which declined 1.15%, ThaiBev, which declined 1.18% and UOB, with a 1.11% fall.

This came as US stocks shut decently lower as vitality offers weighed on Wall Street, ending a seven-session dash of advances for the S&P 500 and Nasdaq Composite, OCBC Investment Research said.

Then, seven out of eleven S&P 500 Industries finished lower, with Energy (- 1.31%) and Financials (- 0.77%) driving the decays while Telecommunication Services (1.42%) and Utilities (0.33%) drove the additions.

Here's additional from OCBC Investment Research:

The shortcoming on Wall Street overnight could weigh on neighborhood notion toward the beginning of today.

With today's tone liable to be bearish, we could conceivably observe the 3200 key support being tried.

On the upside, we keep the underlying obstacle at 3250, in front of 3300.

General volume tumbled 35.8% with 1.1b units exchanged, and add up to esteem lost 9.1% to S$0.6b, while normal esteem/unit rose 41.5% to S$0.53.


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