On 16/Apr, Singapore shares ended lower Friday in line with Asian market and on concerns that were hurt by Beijing's move to curb property speculation.
STI ended 9.75 points (0.3%) lower at 3007.19 points with 1.85 billion shares traded compared with 2.27 billion Thursday. In the broader market, losers outnumbered gainer 359 to 183. Overall today session is more of a profit taking rather than any significant pullback due to its LOW trading VOL, thus I would not worry too much on the market situation.
Technology shares around the region were dragged by after-hours losses in Google's and Advanced Micro Devices' shares on Wall Street, although both companies reported better-than-expected results. The sell down in Google's and AMD's stocks prompted worries that investors' earnings expectations have risen too much and that they may sell stocks on actual earnings announcement.
Another headline on the STI today was Noble Group, which fell 2.5% to S$3.13 on ambiguity over its planned asset swap with Macarthur Coal. Macarthur said that it will start talks with Peabody Energy Corp. which has increased its bid for Macarthur.
Important Resistance of Noble Group: $3.26 to $3.30 (Gap resistance)
Immediate Support of Noble Group: $3.10
MACD: Crossover may happen at any time though at bearish region
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