US equities ended higher Thursday, getting a minor boost after Nasdaq-listed stocks resumed trading after a longer than three-hour halt due to technical issues. All 10 sectors in the S&P 500 Index climbed, with Oil & Gas leading the pack with a 1.34% gain. Telecommunications was the laggard, rising only 0.34%. WTI Crude for Oct gained US$1.18, or 1.1%, to end at US$105.03/barrel while Oct Brent rose 9 cents, or 0.1%, to settle at US$109.90/barrel. Gold for Dec delivery climbed US$0.70, or 0.05%, to end at US$1,370.80/ounce while Silver for Sep rose 7.1 cents, or 0.3%, to end at US$23.08/ounce. Implications for Singapore With US indices rebounding overnight and the Nikkei having a strong start (up 2% now), this is likely to provide some inspiration to the local bourse this morning. Despite retreating as much as 1.7% intraday yesterday, the STI regain much of those losses to end the day just 0.6% in the red; this suggests that investors have started picking up shares on bargain hunting. And with today’s tone likely to improve further, we could see the index recovering further towards the 3130 minor support-turned-resistance. Above that, the next hurdle lies at the 3180 region (3-month downtrend resistance). On the downside, 3070 key trough is now the immediate support, with the next base pegged at the 3000 key psychological level.
Posted on: Fri, 23 Aug 2013 01:18:35 +0000
Trending Topics
Recently Viewed Topics
© 2015