Friday, January 20, 2012

Market Summary -- 20th Jan 12

FTSE STI closed 2,849.38, up 38.18 points or +1.36% with a total volume of 1.93b and a total value of S$2.03b.  Total number of advance vs decline was 333 vs 172.  Of the 30 component index stocks, 21 closed positive, 6 closed negative and 3 remained unchanged.  The top 5 gainer component stocks were :-

1. CityDev  +0.440
2. JSH 500US$  +0.280
3. HKLand US$  +0.270
4. SembMar  +0.220
5. KepCorp  +0.190

The top 5 loser component stocks were :-

1. Jardine C&C  -0.510
2. StarHub  -0.050
3. SingTel  -0.010
4. SIA Engg  -0.010
5. Olam  -0.010
5. F&N  -0.010

US markets closed at least +0.3% yesterday night with better than expected earning from Bank of America and Morgan Stanley and jobless claim data.  However, after market closed, Google's earning fell short of expectation while those of Microsoft, Intel and IBM all beating expectation.  Asian bourses were mostly positive for the day with Nikkei closed +1.47%, SSE +1.00% and HSI +0.84%.  STI +1.36% in the heaviest volume ever seen for past months hitting almost 2 billion mark ahead of the CNY long holiday period, a pre-CNY rally.  21 of the 30 index stocks managed to register positive closing. 

While Asian bourses and US markets might be moving up but the concern in EU still remain.  Greece has entered the 3rd day of talk with investors regarding debt swap and do not rule out the possibility of defaulting.  EU leaders also preparing the fiscal pact draft ahead of end of the month EU Summit in another step to resolve the crisis.

STI will reopen on 25th Jan 2012.

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