WATCHLIST FOR TODAY 15 SEPTEMBER 17

1. INARI ...monitor for btreakoutof 2.53. TP 2.65 & 2.80

2. LIIHEN...monitor for breakout above 3.46...with increased volume

3. YONGTAI...EP 1.48 ....TP 1.55

4. CRESBLD...EP 1.10....TP11.20

Our market is still under mild consolidation mode but selective ace & speculative counters should see rotational plays.

Steel theme play has seen most steel counter being pushed up considerably high. ..be cautious of a possible retracement in this sector which badly need a breather though the longer term outlook for metal counters look promising.

Can also look into rubber counters as rubber price is on the uptrend

Mild Support Tipped For Singapore Shares

The Singapore stock market has finished lower in two straight sessions, dipping almost 15 points or 0.5 percent in that span. The Straits Times Index now rests just above the 3,220-point plateau although it may stop the bleeding on Friday.

The global forecast for the Asian markets is murky, thanks to mixed economic data, geopolitical concerns and a bump in crude oil prices. The European and U.S. markets were mixed and little changed and the Asian bourses figure to follow suit.

The STI finished modestly lower on Thursday following losses from the financials, plantations and industrials.

Among the actives, Singapore Press Holdings surged 1.91 percent, while Yangzijiang Shipbuilding skidded 1.70 percent, CapitaLand Mall Trust tumbled 1.44 percent, Golden Agri-Resources climbed 1.32 percent, Thai Beverage dropped 1.08 percent, Wilmar International shed 0.91 percent, Genting Singapore lost 0.43 percent, Oversea-Chinese Banking Corporation fell 0.18 percent, DBS Group dipped 0.15 percent and SingTel and Hutchison Port Holdings were unchanged.

The lead from Wall Street is unclear as stocks moved in opposite directions on Thursday - eventually finishing mixed, with the Dow hitting a fresh record closing high.

The Dow rose 45.30 points or 0.2 percent to 22,203.48, while the NASDAQ slid 31.10 points or 0.5 percent to 6,429.08 and the S&P 500 fell 2.75 points or 0.1 percent to 2,495.62.

In economic news, the Labor Department noted a bigger than expected increase in consumer prices in August. The faster rate of inflation growth has raised concerns about the outlook for the Federal Reserve's monetary policy.

The Labor Department showed an unexpected pullback in initial jobless claims in the week ended September 9th.

Geopolitical concerns also generated some selling pressure after North Korea threatened to use nuclear weapons to "sink" Japan and reduce the U.S. to "ashes and darkness" for supporting a new round of sanctions by the United Nations.

Crude oil futures briefly surged above $50 a barrel for the first time in a month Thursday, as traders bet on renewed demand from U.S. refineries. October WTI oil gained 59 cents or 1.2 percent to $49.89/bbl, a six-week high.

Bursa Market News and Updates - 28 August

Oil trades below US$50 as market pessimism over OPEC deal lingers

Oil traded below US$50 a barrel after OPEC underwhelmed investors with its production-cut extension deal.

Futures fell 0.3 percent in New York. Prices closed 1.1 percent lower last week after OPEC agreed to extend limits on crude output through the first quarter of 2018. Saudi Arabia’s Energy Minister Khalid Al-Falih said the oil-cuts strategy is working and that global  stockpiles will drop faster in the third quarter. US explorers added two rigs last week to 722, the highest level since April 2015, Baker Hughes Inc said Friday.

“It’s huge inventories around the globe that are really keeping a lid on prices, combined with the ability of those agile US producers who scramble back into action should the oil price rise,” Michael McCarthy, chief market strategist at CMC Markets in Sydney, said by phone. Trading volumes were comparatively low due to public holidays in the US and the UK.

Oil in New York clawed back from its tumble toward US$45 in the run-up to the meeting in Vienna as Saudi Arabia and Russia rallied support for the deal. Meanwhile, US inventories dropped seven weeks in a row, though they still remain above the five-year average and production rose to the highest since August 2015. Trading volumes were comparatively low due to public holidays in the US and the UK.

West Texas Intermediate for July delivery traded at US$49.67 a barrel on the New York Mercantile Exchange, down 13 cents, at 3.45pm in Dubai. Total volume traded was about 50 percent below the 100-day average. Prices rose 90 cents to close at US$49.80 on Friday.

US rigs

Brent for July settlement was 11 cents lower at US$52.04 a barrel on the London-based ICE Futures Europe exchange. The contract gained 69 cents, or 1.3 percent, to settle at US$52.15 on Friday. The global benchmark crude traded at a premium of US$2.36 to WTI.

“We believe the next big move for prices is up as oil inventories fall at an even faster pace in the coming weeks,” Giovanni Staunovo, a Zurich-based commodity analyst at UBS Group AG, said by email. While U.S. shale output is set for “robust growth” in the second half of the year, “we see the oil market tightening further in the coming quarters,” he said.

Rigs targeting crude in the US increased for a 19th straight week in the longest streak of gains since August 2011, according to Baker Hughes data. While the number of working rigs has more than doubled from last year’s low of 316, it was the smallest increase this year. Drillers in the D-J/Niobrara Basin in Colorado led the growth last week, adding four for a total of 27 oil rigs in the region.