On 06/Mar, Singapore shares ended lower after the Chinese government lower its target growth forecast from 8% to 7.5% for this year.

STI ended lower at 2932.01 (2%) with LOW VOL of 1.45 billion shares traded compared with 1.41 billion shares Monday. In the broader market, losers outnumbered gainers 361 to 61. Today STI continued to undergo selling as traders took this opportunity to take profit off the table.

Headline in STI

Before market close

Swiber Holdings Ltd. (AK3.SG) has secured charter contracts worth about US$36 million, with the exercise of all options.

After market close

Sembcorp Marine’s subsidiary unit Sembawang Shipyard has signed a contract to invest $10 million in Ecospec Global Technology Pte Ltd which gives the shipyard 20 per cent equity interest in Ecospec.

Technical Analysis on STI

Immediate Resistance of STI: 2936

Immediate Support of STI: 2906

MY sentiment on STI: ...