On 10/Feb, Singapore shares ended lower after euro-zone finance ministers withheld approval for a second bailout in Greece.

STI ended lower at 2960.00 (0.7%) with HIGH VOL of 3.07 billion shares traded compared with 3.26 billion shares Thursday. In the broader market, losers outnumbered gainers 313 to 171. Today STI continue to undergo profit taking after recent market gains.

Headline in STI

Before market close

DBS Group Holdings Ltd. (D05.SG) 4Q net profit rose 8% to S$731 million compared with S$678 million a year ago as strong loan growth continued to drive the bank’s net interest income.

After market close

CapitaMalls Asia Ltd.’s (JS8.SG) 4Q net profit rose 42.6% to S$205.4 million compared with S$144 million a year ago because of higher rental revenue from its mall in Malaysia and increased contributions from its fund-management entities.

Technical Analysis on STI

Immediate Resistance of STI: 3005

Immediate Support of STI: 2936

MY sentiment on STI: See market outlook tomorrow

CapitaMalls Asia 4Q net profit rose 42.6% to S$205.4M! is contributed by : Singapore Stock Information Exchange

On Thursday, SGX broke the resistance at $7.27 and closed at $7.29 with HIGH volume of 4.95 million shares traded.

A long lower shadow occurred.  This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

Three white candles occurred in the last three days.  Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

Both RSI & MACD are bullish though RSI already in overbought region.

Important Resistance of SGX: $7.41

Immediate Support of SGX: $7.27

Currently prices are well above 20/50/100/200 days MA.

Prices broke the critical resistance at $7.27 with high buying pressure today but only closed slightly higher than the important level.

Due to the overbought situation, we would advise to sell once $7.27 support gave way with high volume if vested.

Stock Chart: SGX! is contributed by : Singapore Stock Information Exchange

On 09/Feb, Singapore shares ended lower after an unexpected increase in China’s inflation rate.

STI ended lower at 2981.17 (0.03%) with HIGH VOL of 3.26 billion shares traded compared with 3.33 billion shares Wednesday. In the broader market, gainers outnumbered losers 244 to 217. Today STI undergo slight profit taking though investors are still bullish on the stock market ahead.

Headline in STI

Before market close

Noble Group Ltd. (N21.SG) appointed Jose Luiz Glaser as chief executive of its Noble Agri unit, effective March 1.

After market close

F J Benjamin Holdings 2Q net profit rose 15.77% to $4.77 million compared with $4.12 million a year ago.

Olam International Ltd. (O32.SG) has acquired Nigerian biscuit and candy maker Titanium Holding Company SA for US$167 million, expanding the Singapore-listed agricultural commodities supplier’s packaged foods business.

Technical Analysis on STI

Immediate Resistance of STI: 3005

Immediate Support of STI: 2936

MY sentiment on STI: The trading session for STI is choppy today as investors are unsure of its direction ahead. This can be affirms by the long upper/lower shadow. The trading volume is high as well which may indicates exit of big players. The resistance at 3005 is expected to be very strong.

Olam Acquires Biscuit Maker For US$167M! is contributed by : Singapore Stock Information Exchange

On Wednesday, Wilmar re-test the critical support at $5.76 and closed at $5.71 with LOW volume of 5.11 million shares traded.

A doji star occurred (where a doji gaps above or below the previous candle).  This often signals a reversal with confirmation occurring on the next bar.

Both RSI & MACD are bullish though RSI in overbought region.

Important Resistance of Wilmar: $5.76

Immediate Support of Wilmar: $5.59

Currently prices are well above 20/50/100/200 days MA.

For the past 3 trading sessions, prices have re-test the critical resistance at $5.76 but failed to break though this level.

The resistance at $5.76 is expected to be strong.

Since the Wilmar already in overbought region, thus we would advise not to buy the stock now. Moreover bulls are having issues in breaking the resistance at $5.76.

Stock Chart: Wilmar! is contributed by : Singapore Stock Information Exchange

On 08/Feb, Singapore shares ended higher helped by signs of progress over debt restructuring talks in Greece.

STI ended higher at 2982.20 (0.8%) with HIGH VOL of 3.33 billion shares traded compared with 2.59 billion shares Tuesday. In the broader market, gainers outnumbered losers 373 to 109. Today STI had another strong bull run as gains for overall market were broad-based.

Headline in STI

After market close

Raffles Education Corp Ltd half year net profit soar 236% to $21.24 million compared with $6.33 million a year ago due to a $9 million gain on disposal of an available-for-sale financial asset in an unquoted equity interests acquired as part of the previous acquisition of Oriental University City.

Biosensors International Group Ltd 3Q net profit was US$291.54 million from gain on remeasurement of joint-venture company, and realization of translation difference in investment of the JV. Profit excluding exceptional items was US$22.87 million, a 42 per cent increase year-on-year from US$16.15 million.

Technical Analysis on STI

Immediate Resistance of STI: 3005

Immediate Support of STI: 2936

MY sentiment on STI: STI continue to rally on the rising trend line today as the index looks to re-test the critical resistance at 3005 by this week. The resistance at 3005 is expected to be very strong thus we would remind investors to be alert especially at these times.

Biosensors Q3 net profit surge on investment gains! is contributed by : Singapore Stock Information Exchange