On 07/June, Singapore shares ended lower as investors took profit on the recent gains.

STI ended lower at 2759.26 (0.1%) with LOW VOL of 993.5 million shares traded compared with 1.24 billion shares Wednesday. In the broader market, losers outnumbered gainers 194 to 158. Today STI undergo profit taking as investors remain wary on the recent gains.

Headline in STI

After market close

Olam International Ltd. (O32.SG) has acquired Nigerian dairy-goods company Kayass Enterprises SA for about US$66.5 million.

Technical Analysis on STI

Immediate Resistance of STI: 2767

Immediate Support of STI: 2691

MY sentiment on STI: STI re-test the critical resistance at 2767 for the 2nd time and yet again failed to break out. The profit taking indicates that the investor’s confidence remains low as they are not convince of the recent rally. We do not suggest entry since 2767 resistance not …