Market Breadth | ICT magazine - Part 2

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Posts Tagged ‘market breadth’

STI +0.4% but upside limited; 2,984 resistance

July 23rd, 2010 | No Comments

Buyer fatigue seems to have surfaced in Singapore bourse as stocks struggling to head higher amid thin volumes, says Dow Jones.

STI +0.4% at 2,968.13 in 2:33 p.m. vs +0.7% at 2,977.16 in morning trade. Any further upside likely minimal, with 2,984 (April 30 high) expected as resistance.

Market breadth still positive but narrower at about 1.5 gainers for every decliner vs 7 for 1 in early trade. Market valuations remain inexpensive, says Deutsche Bank, but bottom-up stock picking will be increasingly significant as Singapore’s economic growth moderates in 2H10.

STI +0.4% but upside limited; 2,984 resistance

July 23rd, 2010 | No Comments

Buyer fatigue seems to have surfaced in Singapore bourse as stocks struggling to head higher amid thin volumes, says Dow Jones.

STI +0.4% at 2,968.13 in 2:33 p.m. vs +0.7% at 2,977.16 in morning trade. Any further upside likely minimal, with 2,984 (April 30 high) expected as resistance.

Market breadth still positive but narrower at about 1.5 gainers for every decliner vs 7 for 1 in early trade. Market valuations remain inexpensive, says Deutsche Bank, but bottom-up stock picking will be increasingly significant as Singapore’s economic growth moderates in 2H10.

STI +0.6%; Singapore growth supportive, says dealer

July 22nd, 2010 | No Comments

Singapore blue chips in play, with STI +0.6% at 2,943.17 midday. Immediate resistance at current July high of 2,958, says Dow Jones.

Still, activity in broad market sluggish, with market breadth tad negative, volume paltry at just 510.1 million shares worth $568.2 million.

“I guess people are still sticking to Singapore’s growth story, with inflation well contained, interest rates low and property prices still rocketing,” says dealer at foreign brokerage.

STI off 0.2% at the break on China weakness; Support at 2,900

July 13th, 2010 | No Comments

Singapore shares surrender early gains by end of morning session as sentiment hit by weakness in China bourses on concerns over more state intervention in Chinese property market, says Dow Jones.

STI off 0.2% at 2,920.67 midday vs +0.5% at 2,938.89 earlier, expected to hold above 2,900 for rest of session. Market breadth negative vs four gainers for every decliner initially.

STI off 1.8%; tech, oil & gas, shipping stocks weak

June 7th, 2010 | No Comments

Singapore shares expected to end down with STI snapping 3-session winning streak, says Dow Jones.

The benchmark off 1.8% at 2,756.61, although bounce off session low of 2,726.80 suggests current June trough of 2710 set last week not likely to be challenged. Market breadth remains deeply negative, with fewer than 50 stocks in positive territory.

STI off 2.2% at new 2010 low; support at 2,605

May 25th, 2010 | No Comments

Weak US stock futures suggest Singapore shares likely to remain depressed for rest of session. Market breadth at 10 decliners for every gainer, with all FTSE ST sub-indexes down, according to Dow Jones.

STI off 1.4%; EU not as bad as global crisis, says NRA

May 19th, 2010 | No Comments

Singapore shares remain weak as investors find no relief from euro zone’s problems, with Germany’s ban on naked short selling aggravating concerns over debt situation, according to Dow Jones.

The STI is down 1.4% at 2,803.37 midday vs low of 2,793.57 at one point, suggesting current month trough of 2,775 may be tested if selling pressure persists in coming days. Market breadth at 7 decliners for each gainer.

STI off 0.6% as investors hold off heavy positioning, says SIAS

March 31st, 2010 | No Comments

Appetite for Singapore shares generally still weak as investors content to stay on sidelines after booking recent gains in early trade, says Dow Jones.

The STI is off 0.6% at 2,915.65 midday but may hold above 2,900 for rest of session. Market breadth at just under two decliners for every gainer.

STI pares gains, but can still climb, says broker

March 30th, 2010 | No Comments

Singapore shares pull back from early highs as players prefer to book gains rather than stay invested amid lack of incentives, says Dow Jones.

STI flat at 2,929.20 midday vs high 2,936.40 (+0.2%); support expected at 2,900, resistance at January high of 2,947. Market breadth flat vs 2.5 gainers for every decliner in early trade.

STI +0.7%; more upside after pullback, says analyst

March 23rd, 2010 | No Comments

Investors mop up Singapore shares as buying interest renewed by advance on Wall Street, reported Dow Jones Newswires. The STI gained 0.7% at 2,909.58, expected to meet resistance at 2-month high 2,932 set last week; support at last week’s low of 2,872. Market breadth at almost 6 gainers to every decliner.

STI off 0.1%; China tightening concerns weigh

March 11th, 2010 | No Comments

Prospect of more tightening measures from Beijing following stronger-than-expected China economic data prompts investors to lighten positions on Singapore shares after early gains driven by Wall Street’s modest overnight advance, reported Dow Jones Newswires.

The STI off 0.1% at 2,858.58 midday vs high of 2,875.21 (+0.5%); likely to hold above this week’s low of 2,820, with Jan 21 high of 2,890 expected to offer resistance. Market breadth tad negative vs four gainers for each decliner in early trade.

STI up 0.8%; more upside as long as above 2,830, says SIAS

March 10th, 2010 | No Comments

Singapore shares remain in positive territory as investors lured back by Wall Street’s advance, but buying activity not widespread as volume light at 876.2 million shares, reported Dow Jones Newswires.

The STI is up 0.8% at 7-week high of 2,861.43 midday; resistance expected at 2,890 (Jan 21 high). Market breadth at two gainers for every decliner, with all FTSE ST sub-indexes higher.

STI gains 0.07%; global headwinds to persist in 2Q, says BNP Paribas

March 9th, 2010 | No Comments

Singapore shares continue to drift sideways in post-lunch trade as investors unwilling to commit, with no firm direction for market.

The STI gained 0.07% to 2,836.56, still locked in tight morning band of 2,831-2,842. Overall activity subdued with about 700 million shares traded vs whole of yesterday’s 1.46 billion. Market breadth remains tad negative.

STI off 0.4% at 2:36 p.m.; Better to sell on rebound, says AmFraser

February 10th, 2010 | No Comments

Downside for Singapore shares may be limited for rest of session given absence of negative news, although any gains also likely minimal with no buy leads in sight.

The STI is off 0.4% at 2,735.30 at 2:36 p.m. and likely to close above 2,700 with resistance expected at current February high of 2,772.

Market breadth is almost neutral, while overall volume stays thin.

STI off 0.2%; lower liners firm on valuations

January 4th, 2010 | No Comments

Lower liners in Singapore continue to outperform blue chips as investors switch out of big caps.

The STI was down 0.2% at 2,891.38, but is expected to hold above 2,850 (last closed below this level Dec 24, 2009). Market breadth remains a tad positive.