STI weekly Summary:
The STI fell 0.8% last week to 2,978.08 on Friday, recording its first weekly loss in 2012. The index has had a strong rally in 2012, gaining 12.5%. Singapore is only half way into its earnings season. 7 of STI's components will be reporting this week, among them, Noble and City Developments
This week, manufacturing data from the two largest economies in the world dominate the key economic releases space – with the United States reporting at the start of the week and China closing the week with theirs.
But the mid week will be when investors worldwide will be keeping their eyes peeled as the United States release their GDP data – the biggest indicator on whether the U.S economy is recovering.
Mon 27 Feb: U.S Pending Home Sales (Jan), U.S Dallas Fed Manufacturing (Feb)
Tue 28 Feb: U.S Consumer Confidence (Feb), U.S Richmond Fed Manufacturing Index (Feb), Euro-zone Consumer Confidence (Feb)
Wed 29 Feb: U.S 4Q GDP
Thu 1 Mar: China PMI and HSBC Manufacturing (Feb)
Trading strategy wise: STI index drop below the 3000 mark, making the previous peak 3030 as our next resistance. As mentioned in previous email, we expecting market to pull back, and indeed the market did pull back this few day. However the pull back is not as much as what we expected. The market hardly fall, hence being bullish is still reasonable. We encourage you to enter Only when the Price of stock Break above previous day high. Lastly, attached the dates of companies Result announcement for your reference.
ART System Position Trade Stock Tip: Yangzijiang, Ezra, Ezionhldg
ART system Founder and Stock Trainer