Wall Street ended high on the close of the week given the positive data about the jobs data.
The week has been slightly positive for STI. It closed higher. The interest rate cut from the FEDs and sentiment is quite positive. there is a slight concern about the signing of the trade agreement between USA and China since Chile cancelled the APEC hosting venue.
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| STI Weekly chart |
How did the stocks mirrow the STI? Did it end up higher at the end of the week? Any catalyst?
Let's look at Singtel. It ended the week higher depsite of a negative news about the billion dollar fines in India over Airtel. It could be anticipating the last quarter results. Singtel may need to divest some assets to create a boast in the prices.
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| Singtel weekly stock chart |
Starhub ended lower instead just by a tad. Starhub has been very flat for the couple of months. Like Singel, the quarterly results shall be out in middle of November. I think it shall be challenging given the current environment.
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Starhub weekly stock chart
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Keppel ended the week flat. There is a lack of stimulus to push it higher towards the proposed buyin from Temasek at 7.35. It is a concern as there are not many positive news out there for Keppel to push the price higher. I think there is a need of a catalyst to bring it across to 7. It is a mid term investment.
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| Keppel weekly stock chart |
SembCorp is also flat. It seems to collate with Keppel movements. |
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| SembCorp weekly stock chart |
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SembMarine ended lower for the week. I can say it is rather flat too.
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SembMarine weekly stock chart
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The market is looking for signs to push it higher. Probably quarterly reports will decide the fate.
Please see my disclaimer in my blog....
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