On 16/Mar, Singapore shares end higher Wednesday as bargain hunters swoop up attractive stock valuations after a recent selloff despite fears.

STI ended higher at 2971.00 (0.8%) with LOW VOL of 1.32 billion shares traded compared with 2.23 billion shares Tuesday. In the broader market, gainers outnumbered losers 356 to 152.  Today the market breath is broadly positive with regular buying pressure which affirms that investors took this opportunity to buy stock on fears.

Headline in STI

Before market close

Australia’s conservative opposition expressed disagreement on SGX US$7.3 billion take over the Australian Securities Exchange which creates further doubt on a deal already struggling to gain political approval.

Fraser And Neave Ltd. (F99.SG) plan to raise S$300 million through a bond offer with 5-year and 7-year tranches.

Technical Analysis on STI

Immediate Resistance of STI: 2973

Immediate Support of STI: 2938

MY sentiment on ...