On 17/June, Singapore shares end lower Friday as fears heighten on Europe’s debt troubles and uncertainty on the U.S. economic recovery.

STI ended lower at 3005.28 (0.5%) with regular VOL of 1.11 billion shares traded compared with 1.08 billion shares Thursday. In the broader market, losers outnumbered gainers 345 to 114. Today STI remain under heavy fire as investors continue to sell their stocks on uncertainty ahead.

Headline in STI

After market close

Singapore Airlines Ltd. (C6L.SG) formed a new subsidiary company New Aviation Pvt. Ltd for its proposed low fare, long distance carrier.

Fraser and Neave (F&N) has opened a new S$110 million (US$88.6 million) canned milk plant in Thailand, which has a total capacity of 3.5 million cans per day.

Technical Analysis on STI

Immediate Resistance of STI: 3040

Immediate Support of STI: 2973

MY sentiment on STI: See market ...