Friday, September 15, 2017

WATCHLIST FOR TODAY 15 SEPTEMBER 17

1. INARI ...monitor for btreakoutof 2.53. TP 2.65 & 2.80

2. LIIHEN...monitor for breakout above 3.46...with increased volume 

3. YONGTAI...EP 1.48 ....TP 1.55

4. CRESBLD...EP 1.10....TP11.20

Our market is still under mild consolidation mode but selective ace & speculative counters should see rotational plays.

Steel theme play has seen most steel counter being pushed up considerably high. ..be cautious of a possible retracement in this sector which badly need a breather though the longer term outlook for metal counters look promising. 

Can also look into rubber counters as rubber price is on the uptrend

Mild Support Tipped For Singapore Shares

The Singapore stock market has finished lower in two straight sessions, dipping almost 15 points or 0.5 percent in that span. The Straits Times Index now rests just above the 3,220-point plateau although it may stop the bleeding on Friday.
The global forecast for the Asian markets is murky, thanks to mixed economic data, geopolitical concerns and a bump in crude oil prices. The European and U.S. markets were mixed and little changed and the Asian bourses figure to follow suit.
The STI finished modestly lower on Thursday following losses from the financials, plantations and industrials.
Among the actives, Singapore Press Holdings surged 1.91 percent, while Yangzijiang Shipbuilding skidded 1.70 percent, CapitaLand Mall Trust tumbled 1.44 percent, Golden Agri-Resources climbed 1.32 percent, Thai Beverage dropped 1.08 percent, Wilmar International shed 0.91 percent, Genting Singapore lost 0.43 percent, Oversea-Chinese Banking Corporation fell 0.18 percent, DBS Group dipped 0.15 percent and SingTel and Hutchison Port Holdings were unchanged.
The lead from Wall Street is unclear as stocks moved in opposite directions on Thursday - eventually finishing mixed, with the Dow hitting a fresh record closing high.
The Dow rose 45.30 points or 0.2 percent to 22,203.48, while the NASDAQ slid 31.10 points or 0.5 percent to 6,429.08 and the S&P 500 fell 2.75 points or 0.1 percent to 2,495.62.
In economic news, the Labor Department noted a bigger than expected increase in consumer prices in August. The faster rate of inflation growth has raised concerns about the outlook for the Federal Reserve's monetary policy.
The Labor Department showed an unexpected pullback in initial jobless claims in the week ended September 9th.
Geopolitical concerns also generated some selling pressure after North Korea threatened to use nuclear weapons to "sink" Japan and reduce the U.S. to "ashes and darkness" for supporting a new round of sanctions by the United Nations.
Crude oil futures briefly surged above $50 a barrel for the first time in a month Thursday, as traders bet on renewed demand from U.S. refineries. October WTI oil gained 59 cents or 1.2 percent to $49.89/bbl, a six-week high.