Weekly/Montly Wrap

It's the end of month for Jun. A red sea of blood for all the six major indices I monitored. refer to the first table below, Dow dropped the least with 1.4% or 206 points down, and Shanghai lost the most with 321 points or 14% down. Money outflow from all market reacted to Fed's possible reduce of stimulus plan. China market hit lowest since 2008 financial crisis bottom on banks cash squeeze. SSE closed below 2000 level this month. market sentiment is very weak.

STI closed at 3150, lost 160points or 4.9% in Jun--it's biggest drop since May 2012. Gave back all its gain this year and moreover, below last year end close(YEC) 3167--which is a bearish sign.

STI monthly chart formed a big red candle with a little tails below--which shows rejection to drop further(possible short recovering at month end), the candle is basically very bearish. It just broke below the major uptrend channel at 3190.

There isn't bullish reversal signal yet, 3065(month low) level for downside immediate support. Bullish bias if it can rebound above 3167 YEC.

Below table is major indices weekly close. Some window dressing at month end with five indices gain on weekly basis, while SSE dropped another 4.5%.

STI weekly chart below. It formed a green candle after five red candles, finally rebounded. Unlike its monthly chart, its uptrend channel is still intact in short term weekly chart. Will be watch 3167 for more upside or channel bottom as support.

Singapore Stocks Related to Japan

According to Bloomberg, there are 14 Singapore listed company with at least 10% revenue come from Japan.

Friday Indicator

US up by 114 pts last night @15024, the important 15000 level is holding well by now.

STI +13@3118, it rebounded to high of 3152 in the morning session but was down to fill the gap in the afternoon session. The gap between Thu and Fri is at 3109-3125, on weekly basis, I'm bullish as long STI CLOSED above its 50% fib( wk high to low) at 3109, also its gap bottom level.

STI weekly:
61%: 3120
50%: 3109
38%: 3099

stocks to focus today:

Starhub
DBS
Kepland
Ho Bee
Wingtai
UOL
AIMSAMP

Long Candidates

AIMSAMPReit

 CWT

 Hi-P

 Kepland

 Sinarmas

Singapore listed China ETF Hit New Low

The only Singapore listed China ETF "UETF SSE50 China100X"( code: JK8) ETF dived to new low yesterday following China banks cash squeeze crisis. The ETF is comprising 50 top China listed companies in Shanghai stock exchange.( click HERE for more information)

The United SSE 50 China ETF aims to provide investment results that, before fees, costs and expenses (including any taxes and withholding taxes), closely correspond to the performance of the mainland Chinese equity market as measured by the SSE 50 Index. Securities eligible for inclusion in the SSE 50 Index include equity securities issued by companies incorporated in China, and listed on the Shanghai Stock Exchange (SSE) in the form of A-Shares and are denominated in Chinese Yuan. The SSE 50 Index is an index consisting of 50 constituent stocks which are the 50 largest stocks of good liquidity listed on the SSE. The objective of the SSE 50 Index is to reflect the performance of the good quality large enterprises, which are influential in the SSE. The United SSE 50 China ETF is the first China A-Share ETF to be listed on the Singapore Stock Exchange. It is also the first China A-shares ETF to be denominated and traded in Singapore Dollars.

Technically,UETF SSE50 hit new historical low yesterday to 1.44 following SSE's panic selling and recovered in the afternoon to close at 1.53, its support is at 1.47. Its currently trading at 1.51(2.59pm)

Weekly Wrap

For the week, global markets continue its fall. STI fell the least for 1.2% down and Shanghai fell the most of 4.1%, among the six major indices I monitored.

As for STI, it has been down for five consecutive weeks already--its longest streak of fall since 2008 Financial Crisis. We are below a major uptrend channel bottom(weekly) this week. STI lost 37 points to close at 3124, below its 2012 year close 3167 level.

On its daily chart, STI open gap-down 52 points at 3081 on Friday morning, and filling the big gap through-out the whole day to almost closed the gap, minimised the loss to 9points only. Market is still weak but Technically, market is at extremely oversold level. The immediate support to watch for coming week is 3100. Immediate resistance level is 200ma at 3195 level.

Singapore Great Haze-- FREE!!

Japan Economy in Focus