China sticking with Europe debts!

On 27/May, Singapore shares end higher Thursday as investors began to buy stocks on their way up,  taking some encouragement from lack of bad news in the Europe zone. 

STI ended 43.68 points (1.6%) higher at 2739.7 with VOL of 1.5 billion shares traded compared with 1.66 billion shares Thursday. In the broader market, gainers outnumbered losers 355 to 131.  Today STI opened in red but turned positive during mid-day due to the support of higher U.S. stock futures. 

 

Headline in STI

Before market close

Today China State Administration commented on the news that said they are considering selling some of it holdings of euro-zone government bonds were "groundless," according to a statement published on its Web site.

The denial by China triggered a rebound in Asia stocks as bargain hunters came in after the recent correction but euro-related fears lingered.

Important Resistance of STI: 2780

Immediate Resistance of STI: 2740

Immediate Support of STI: 2650

MY sentiment on STI: Will update on Saturday on weekly market outlook.