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Singapore’s STI is off 0.2% at 3197.78 with a tepid volume of 872 million shares traded worth $755 million, as some investors watch cautiously from the sidelines after yesterday’s 1.1% slide, with the index hovering around the key 3200 level.
After yesterday’s fall, UOB KayHian adjusts its stance on the index from neutral to negative, “backed by poor market breadth indicators on the Singapore bourse as well as in the region.”
After yesterday’s fall, UOB KayHian adjusts its stance on the index from neutral to negative, “backed by poor market breadth indicators on the Singapore bourse as well as in the region.”
Notes, the MACD indicator cut the signal line in the overbought region, while strong volumes lent strength to the downward move. “We believe a correction is in place and advise investors to trade cautiously.”
The usual stocks are grabbing most of the volume today, with Golden Agri-Resources (E5H.SG) down 1.4% at $0.730, Genting Singapore (G13.SG) flat at $2.16, while Raffles Education (E6D.SG) surges 4.7% to $0.335. Mapletree Logistics Trust (M44U.SG) rises 1.0% toS$0.90, a 31-month high after reporting double-digit revenue and distribution growth in 4Q.
