On 04/June, Singapore shares ended lower after poor unemployment data in the U.S. cast further doubts over the health of the global economy.

STI ended lower at 2698.9 (1.7%) with LOW VOL of 1.05 billion shares traded compared with 1.10 billion shares Friday. In the broader market, losers outnumbered gainers 343 to 52. Today STI went under VERY heavy selling pressure as investors go into panic selling.

Headline in STI

Before market close

Swiber Holdings Ltd. (AK3.SG) and Sembcorp Marine Ltd. (S51.SG) have secured a contract valued at US$175 million for an offshore project in the Southeast Asian nation.

Technical Analysis on STI

Immediate Resistance of STI: 2767

Immediate Support of STI: 2691

MY sentiment on STI: STI went under panic selling pressure today as investors sell on fear of global economy recession. The breached of 2767 support spells a very bearish sentiment …