Friday, March 2, 2012

Market Summary -- 2nd Mar 12

FTSE STI closed 2,993.49, up 14.65 points or +0.49% with a total volume of 1.31b and a total value of S$1.07b.  Total number of advance vs decline was 270 vs 139.  Of the 30 component index stocks, 21 closed positive, 4 closed negative and 5 remained unchanged.  The top 5 gainer component stocks were :-

1. JSH 500US$  +0.240
2. CityDev  +0.100
3. UOB  +0.090
4. OCBC  +0.080
5. HKLand US$  +0.080

The 4 loser component stocks were :-

1. JMH 400US$  -0.120
2. GLP  -0.040
3. ST Engg  -0.020
4. Olam  -0.010

US markets closed positive yesterday night after a better than expected jobless claims data.  Asian bourses were mostly positive for the day despite crude oil price hitting US$110/barrel after news of Saudi pipeline burst.  Nikkei closed +0.72%, SSE +1.43% ahead next week CCP meeting whereby Chinese leaders pen out growth plan and HSI +0.81%.  STI in line with regional bourses up 0.49% in another thin volume day of less than 2 billion with 21 of the 30 index stocks registered positive closing.

Lack of volume indicating mostly sideline while markets range bound according to news/events after corporate earnings come to a close.  Investors will also be looking at the outcome of the EU Summit to see what other measures in particular increasing the bailout funds for EFSF from EU leaders.

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