Home THE DAILY EDGE Business STI +1.5% midday; Volatility to remain: UOB KayHian
STI +1.5% midday; Volatility to remain: UOB KayHian

Tags: Capitaland | Golden Agri-Resources | Indofood Agri Resources | Noble Group

Written by The Edge   
Monday, 01 November 2010 12:59
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STI +1.5% at 3,188.44 midday, tracking sharp gains in China, HK markets after robust China PMI manufacturing data boosts sentiment across region; 1.09 billion shares traded worth $1.31 billion; gainers outstrip losers 2.9 to one, says UOB KayHian.

UOB KayHian, in technical report, says expects volatility to remain, with key resistances approaching, according to Dow Jones.

Notes, index has retraced more than 2.4% from recent peak established since mid-October “but we have not seen any buy signal just yet.” Keeps neutral stance on STI, tips first-level support at psychological 3,100, then 3,042.

Golden Agri (E5H.SG) top STI percentage gainer, +5.4% at $0.685, agri-peers also strong with Nobel (N21.SG) +4.3% at $1.94, Indofood Agri (5JS.SG) +1.2 at $2.63. CapitaLand (C31.SG) down 0.8% at $3.86 after 3Q results late Friday.

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Last Updated on Monday, 01 November 2010 13:00