Chart[20] - First Resources

The counter exceeded 1.595 last Thursday, thus past resistance changed into support. EMA10 is pointing upwards meantime. Last trading day saw the price retreating to 1.615. Shall support, 1.565 persists, price could edge up to next resistance ~ 1.745.

Jul[10] - Market Updates

Singapore:
Retreating from 2016 resistance ~ 2959, STI gap down on last trading day. Selling pressure were seen on banks as well of oil counters upon bankruptcy news of local oil & gas company, Swiber. Entering August, most blue chips will be expired with dividend entitlement. Index could be softening. Free fall oil price could induce further headwind as well. Strong support line could be 2706.

Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA)

Jul[9] - Financial Highlights

The following counters released respective latest financial results last week. A summary is provided.
Mapletree Logistics Trust, Sheng Siong, HPH Trust, SGX, SIA, Sembco Marine, OCBC, UOB

Chart[19] - HongKong Land USD

6.52 served to be strong resistance for the counter since early 2016. Last Thursday saw its price break up from the barrier. Price rested ~ 6.52 on last trading day. Shall this newly formed support persist, up trend could be forming with immediate resistance at  7.11. Current price translates to dividend yield ~ 3%. If price fall below again 6.52 again, the break up would be a false alarm.

Chart[18] - Ying Li

Last Friday, Singapore and Chongqing financial institutions signed 28 agreements. Transactions valued at more than US$1.6b are expected to be realized. As a developer in Chongqing, its shares price up 3% with significant volume on the same day. Prices trend has been consolidated within a consolidation zone (as highlighted in daily chart below) since last February. Current momentum tends to break up from the converging channel. 

Shall it break up, immediate resistance is 0.149, followed by strong resistance ~ 0.198 as shown in weekly chart below.

Jul[8] - Market Updates

Singapore:
STI was retreating from 2959 which was peak in 2016 year to date. Immediate support ~ 2880. Two central bank meetings in US and Japan next week shall decide whether STI can break new high for 2016.

Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA)

Jul[7] - Financial Highlights

The following counters released respective latest financial results last week. A summary is provided.
Keppel DC, Keppel T&T, Keppel Co, Capitaland Mall Trust, Cach Logistics Trust, Cambridge Industrial Trust.

Chart[17] - Counters hitting resistance

DBS: The counter closed at 16.12, which was marginally above past 6 months resistance ~16.02. Shall it be broken, next resistance line could be 16.8. Historically, the counter used to enter CD (cum-dividend period) by mid August. Fundamentally, current price is still attractive as well below book value. Technically, potential break up from resistance might be forming.

OCBC: The counter is hovering around its 3 months resistance ~ 8.94. Coming CD period supposed to be by August. Major concern are non performing loan as well as earning contributed from Great Eastern (which dragged down overall profit last quarter) on coming report. Historically, EX (exclusive-dividend) period on Aug used to be bargain hunting window for the counter.

ST Engineering: The counter has never broken 3.46 since Jun 2016. Recent bull run was mainly due to rising risk appetite among investors globally. It would be interesting to see whether the one year resistance could be exceeded. Similarly, August would be dividend period from the counter, and price used to fall on EX date.

Chart[16] - Global Investment

The counter saw significant buying volume on last trading day (first chart in below). By zooming out on weekly chart (second in below), the rising momentum has been gathering pace since early July. Last trading price paused at 0.138 which was also the resistance since last September. Shall it be broken with convincing volume, trader could look forward to target price at 0.15. Interesting the current price translates to dividend yield ~10%. Next dividend issue period used to fall on August. Investors could be positioning for the high yield return in advance.

Jul[6] - Market Updates

Singapore:
STI saw little bull sign lately. Immediate resistance is 2690 which is also 2016 peak. As most blue chips are giving dividend in coming months, market shall find certain support. Value hunters should monitor closely on EX period (expiry of Cum-Dividend). 

Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA)

Jul[5] - Financial Highlights

The following counters released respective latest financial results last week. A summary is provided.
Soilbuild REIT, Ezra, M1

Chart[15] - Global Invacom

The counter has been range bound between 0.102 and 0.128 since March. Spike in buying interest was seen on April, Jul and also last trading day. Shall it break up this consolidation zone, a bull trend could be expected. 

Jul[4] - Market Update

Crude Oil:
Although US reported further drop in crude oil inventory last week, crude oil plunged instead. Temporary retreat of oil price could pull down risk appetite towards offshore counters. Value hunting period could be presented instead, considering most panic over oil glut is over.

Singapore:
STI went silent again last week. It moved up from downward channel, but less strength to break up decisively. Upcoming weeks welcome more financial results among listed companies. Companies earning update would be concerned by market. Interest rate decision from Bank of England next week could stir market sentiments as well.

Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA)

Jul[3] - Financial Highlights

The following counters released respective latest financial results last week. A summary is provided.
SPH REIT, Triyards

Jul[3] - Financial Highlights

The following counters released respective latest financial results last week. A summary is provided.
SPH REIT, Triyards

Chart[14] - Silverlake Axis

The high yield (dividend >5%) counter rebounded from recent downfall. On last two trading days, company actually bought back shares from open market. However, buying interest already gaining moment on early June as highlighted in chart below. Average 4M shares was transacted from 1st to 4th Jun while price were riding high. Immediate resistance is 0.55. Shall this be broken, next resistance shall be 0.63. Support shall be at 0.49. 

Jul[2] - Market Update

Singapore:
STI hitting downwards trendline on last trading days. Coming days will be critical as to witness whether it can ride away from falling channel.

Major Event on 2H2016:
FOMC meeting: 26 Jul, 20 Sep, 1 Nov, 13 Dec
US Presidential Election: 8 Nov
Bank of England's meeting: 14 Jul
OPEC meeting: 30 Nov

Market Calendar on coming week:
(SG: Singapore; CH: China; US: USA)

Jul[1] - Trend Overview (Post-BREXIT)

By last trading day, global market has fully recovered from its plummet upon BREXT voting results. All these happened at the end of 1H2016. Let's review the performance of STI and few of its constituents in the past 6 month.

In early 2016, STI experienced one of its most horrible month. Crude oil was trading at its 10 years low. "Risk off" mood was overwhelming global markets. While most retail investors were shaking head, market covered its lost ground on March. Subsequently downturn happened on May ("traditional SELLING month") as well as June (BREXIT). However, STI refused to retreat further from 2700, which has since become strong support. 

Banks used to be leading indicator of market sentiments towards future economy. Upon heavy sell down on 2H2015, banks has been mostly moving in side way. Interestingly, DBS yet under its book value. Although 16 seems to be strong resistance, current price movement is pretty stable. Shall 16 to be broken, the oversold window might come to end quickly (resistance changes to support). For OCBC, 4% dividend yield could be gaining enough interest meanwhile.

Crude oil production from Non-OPEC has been shrinking. OPEC has also indicated willingness for freeze production talk shall oil price drop again. Such factors could signal a balanced oil price as in current range (USD46-51). Keppel is under its net tangible asset price now. Current price could have absorbed most fear factor from oil glut.

SGX proved to be a range bound counter again. Benefited from its business nature, its earning used to be consistent throughout bull bear market. 7.3 served to be strong support.

Weeks before BREXIT, market were swinging wildly based on survey results. Similar situation could happen on the weeks leading to US election on November. As STI has been hovering near to its historical low valuation, downside room could be limited shall next market sell down happen. Above charts showed the resilience of STI. BREXIT incident proved that market might not be panic too long over non-surprising event. Volatility has become a norm. Therefore, retail investor shall embrace volatility and continue hunting value.