Monday, 20 April 2015

STRAITS TIMES INDEX - WATCH OUT FOR THE SUPPORT AT 3500 LEVEL

Volume on the Singapore Bourse has been trading above the $2billion mark since the start of  April 2015. This could be a positive sign for the Singapore Exchange for 2015. Today see some healthy pull back from 3525 to closed at 3503(just above the support level of 3500). Many OIL&GAS and other types of local penny stocks has been retreating after rallying to a high in 2015 which lead to rotation in the S-CHIPS Penny sector.
 
Why do we see positive sign going-forward for S-CHIPS? SGX has inked an MOU with Chengdu MFA Office today(http://sgx.com/wps/wcm/connect/sgx_en/home/higlights/news_releases/SGX-Chengdu-listings) which is seen tightening corporate governance for S-CHIPS sector(better in the future). Many S-chips have not recovered and trading below their Net Asset Value which we see opportunity.
 
 

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