STI has lost the momentum for the rally!

On 12/Apr, Singapore shares ended slightly higher Monday, despite some profit-taking, with mid-cap stocks leading gains most of the session. 

STI ended up 5.20 points (0.2%) higher at 2977.17 points with 2.65 billion shares traded compared with 2.66 billion Friday. In the broader market, losers outnumbered gainers to 272 to 269. 

One of the major news that helped the market is the European Union had settled on Sunday to come up with more details of a rescue package if the Greek government needed one. Euro-zone finance ministers agreed that if Greece were to receive a bailout, it could get as much as 30 billion Euros in loans this year at about 5% interest from fellow euro nations. The rate was well below the 7% on Greek sovereign debt last week.

In addition, Yangzijiang (BS6.SG) BREAK OUT today and close higher at S$1.33 with HIGH VOL of 80.9 millions traded (5 times average) as China-based shipbuilder discloses that it is in preliminary discussion with investment banks, financial advisors for potential dual listing in Hong Kong or Taiwan.

Important Resistance of Yangzijiang: $1.46

Immediate Support of Yangzijiang: $1.26