On 13/May, Singapore shares end lower Thursday as concerns over Europe debts issues starting to re-emerge again.
STI ended 12.41 points (0.4%) lower at 2867.92 with LOW VOL of 1.68 billion shares traded compared with 1.51 billion Wednesday. In the broader market, losers outnumbered gainer 275 to 212. Lately STI seems to be very indecisive in determining which direction to go and most investors are keeping at sideline waiting for more confirmation.
Headline in STI
Before market close
Singapore Telecommunications Ltd. (Z74.SG) reported a better-than-expected 12% improvement on its fourth-quarter net profit at S$1.02 billion compared with S$903.4 million a year earlier. However Singtel cautioned investors that operating income will only gains by a single percentage digit due to higher capital spending in this year.
Sembcorp Industries Ltd. (U96.SG) informed that Cascal N.V. (HOO) has withdrawn its demand for a "temporary restraining" order to stop them from making a bid for the New York-listed wastewater company.
After market close
Tiger Airways Holdings Ltd. (J7X.SG) announced that it has gain profitability in the fourth quarter with net profit of S$22.3 million compared with a loss of S$17.9 million a year earlier due to the increase of passengers in their airline.
Olam International Ltd. (O32.SG) said that its third-quarter net profit increase 2.6% at S$89.3 million, up from S$87 million a year earlier due to higher income from the agricultural commodities.
Important Resistance of Olam: $2.55
Immediate Support of Olam: $2.40
RSI: In bearish zone of 40%
MY sentiment on Olam: VOL has been very low for the past few days indicating the lack of interest from the investors. Moreover Olam closed at $2.52 today to mark a black candle stick with long upper shadow to show the unwillingness of further buying up. One addition important note is Olam was also holding just below of 20/100 days moving average and the technical resistance at $2.55.
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