On 08/Aug, Singapore shares ended lower as S&P historic downgrade of U.S. government debt raised concerns on the global economy growth.

STI ended lower at 2884 (3.7%) with HIGH VOL of 2.49 billion shares traded compared with 2.81 billion shares Friday. In the broader market, losers outnumbered gainers 645 to 78. Today STI undergo another massive selling down as investors dump their stocks on the news of US downgrades.

Headline in STI

Before market close

Sound Global Ltd 2Q net profit rose 47.2 per cent from a year ago to RMB 109.65 million.

After market close

Z-Obee Holdings Limited 1Q net profit fall 89.78% to US$207,010 compared with US$2.02 million a year earlier.

Ho Bee Investment Ltd 2Q net profit fell 55.3 per cent to S$57.19 million.

Technical Analysis on STI

Immediate Resistance of STI: 2885

Immediate Support of STI: ...