Friday, January 27, 2012

Market Summary -- 27th Jan 12

FTSE STI closed 2,916.26, up 21.83 points or +0.75% with a total volume of 1.77b and a total value of S$1.34b.  Total number of advance vs decline was 346 vs 142.  Of the 30 component index stocks, 23 closed positive, 3 closed negative and 4 remained unchanged.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.440
2. F&N  +0.200
3. CityDev  +0.190
4. UOB  +0.180
5. DBS  +0.120

The 3 loser component stocks were :-

1. JSH 500US$  -0.440
2. JMH 400US$  -0.420
3. SembMar  -0.010

US markets closed negative yesterday after new home sales price fell and jobless claims more than expected as investors taking profit after strong run up since start of the year.  Asian bourses were mixed going into weekend.  Nikkei closed -0.09%, SSE still close for CNY and HSI +0.31%.  STI swinging between positive and negative and ended up with a strong closing of +0.75% in a day of moderate volume.  Note today total value came in below total volume.  STI after breaking the resistance at 2,850 is coming to the next resistance at 2,920.

With earning season half way through and EU Summit next week, investors probably switching attention from corporate earning to EU Summit.  It will not be a surprise should market starts to pull back next week after strong run up and perhaps that will be opportunity for those who missed the run up to get in.  Do approach the market with cautious now.

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