In today’s briefing:
- Straits Times Index (STI) Rebalance Preview: YZJFH Is the Delete
- SEA Buy Alignments into a New Low
- SPH Scheme Elections In – SPH REIT Chain Offer Announced
Straits Times Index (STI) Rebalance Preview: YZJFH Is the Delete
- Yangzijiang Financial Holding (YZJFH SP) started to trade on the SGX today following its spin-off from Yangzijiang Shipbuilding (YZJSGD SP). YZJFH’s last price was S$0.65/share.
- The FTSE Straits Times Index (STI) (STI INDEX) currently has 31 members and the lowest ranked constituent by full market cap at the close today will be deleted.
- At current prices, Yangzijiang Financial Holding (YZJFH) will be deleted from the FTSE Straits Times Index (STI) (STI INDEX) at the close on 4 May. Comfortdelgro avoids deletion for now.
SEA Buy Alignments into a New Low
- SEA sell volumes are deteriorating into new lows with two buy tranche levels outlined to align with the RSI near 25 as the primary long trigger.
- Selling exhaustion is noted as the descending price wedge matures. Sell volumes deteriorating into new low sets up the entry.
- 102 is the key hurdle to clear with macro targets at 132 and 170. Buy probe near 70 with a higher conviction buy near 54.
SPH Scheme Elections In – SPH REIT Chain Offer Announced
- Singapore Press Holdings (SPH SP) 58% to 42% to take cash instead of cash + SPH REIT units.
- That was to be expected, but it means Cuscaden owns 47+% of SPH REIT and needs to conduct a Conditional Chain Offer on SPH REIT at S$0.9372/unit.
- That provides a put option under SPH REIT for holders/buyers as Singapore opens up.
Before it’s here, it’s on Smartkarma
