Overseas investors in Singapore: STI Index (.STI) are selling out at the fastest rate in almost a decade

Overseas investors in Singapore: STI Index (.STI) are selling out at the fastest rate in almost a decade

Overseas investors in Singapore: STI Index (.STI) are selling out at the fastest rate in almost a decade

Overseas investors in Southeast Asian stocks are selling out at the fastest rate in almost a decade, as key markets in the region get caught up in the escalating trade war.

A group of U.S.-listed exchange-traded funds operated by BlackRock Inc.’s iShares unit — tracking shares in countries including Singapore, Indonesia, Malaysia, the Philippines and Thailand — posted net outflows of $86.5 million on May 13, the most since at least September 2010, according to data compiled by Bloomberg.

Equity markets across Asia have fallen back over the past two weeks as trade tensions between the U.S. and China escalated and fresh tariffs were imposed. The MSCI Asia Pacific Index is down 4.8% so far this month.

The Philippines Stock Exchange Index is mired at a four-month low following midterm elections in which opposition candidates to President Rodrigo Duterte were crushed, raising concerns about political risks over the apparent erosion of democracy in the nation. And export-heavy Singapore’s Straits Times Index has tumbled more than 5% from its year-to-date high in April.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 3,296.27.

The projected lower bound is: 3,164.10.

The projected closing price is: 3,230.18.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 33 white candles and 17 black candles for a net of 16 white candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 26.6149. This is not an overbought or oversold reading. The last signal was a buy 0 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 35.71. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 8 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -93. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 8 period(s) ago.

Rex Takasugi – TD Profile

STRAITS TIMES closed up 11.490 at 3,230.260. Volume was 11% below average (neutral) and Bollinger Bands were 57% wider than normal.

Open High Low Close Volume___
3,212.6403,233.6603,202.6703,230.260 189,205,280

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 3,272.95 3,277.76 3,185.63
Volatility: 19 13 15
Volume: 219,390,496 212,328,288 216,047,120

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

STRAITS TIMES is currently 1.4% above its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of .STI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .STI and have had this outlook for the last 4 periods.

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