On 07/May, Singapore shares ended lower as investors fled to safety following European election results and renewed fears over the global economy

STI ended lower at 2924.95 (2.2%) with HIGH VOL of 2.44 billion shares traded compared with 2.47 billion shares Friday. In the broader market, losers outnumbered gainers 370 to 61. Today STI undergo heavy selling pressure as investors panic sell their risk assets.

Headline in STI

Before market close

Sembcorp Industries Ltd. (U96.SG) has signed an agreement to buy power assets in China for US$85.5 million (S$106.7 million).

After market close

Hutchison Port Holdings Trust (NS8U.SG) 1Q net profit at HK$462.8 million, 0.7% above the HK$459.4 million the company had forecast in its initial public offering prospectus.

Technical Analysis on STI

Immediate Resistance of STI: 2928

Immediate Support of STI: 2906

MY sentiment on STI: STI has …