Thursday, April 19, 2012

Market Summary -- 19th Apr 12

FTSE STI closed 3,008.21, up 7.63 points or +0.25% with a total volume of 1.99b and a total value of S$1.04b.  Total number of advance vs decline was 193 vs 177.  Of the 30 component index stocks, 15 closed positive, 11 closed negative and 4 remained unchanged.  The top 5 gainer component stocks were :-

1. SIA  +0.160
2. DBS  +0.140
3. CityDev  +0.090
4. Wilmar  +0.090
5. KepCorp  +0.080

The top 5 loser component stocks were :-

1. Jardine C&C  -0.450
2. JMH 400US$  -0.130
3. HKLand US$  -0.070
4. JSH 500US$  -0.040
5. UOB  -0.030
5. SembMar  -0.030

US markets pulled back yesterday night with average of a drop of 0.4% after the previous day rally.  Asian bourses were mixed for the day with Nikkei closed -0.82%, SSE -0.09% and HSI +1.03%.  STI closed +0.25% in a volume slightly less than 2 billion with focus mostly on the blue chips.  Of the 30 index stocks, 15 registered positive closing.

With firm corporate earnings from some of the blue chips companies like Kepland and KepCorp ( which announced after market closed today ), interest has shifted from penny to more fundamental strong stocks.  Investors still maintain slight cautious as eying on tonight Spanish bond auction.  Another event today was IMF said to have secure US$320b of funds to build up its war chest to boost bailout.

There are 2 stocks among STI investors might want to focus on.  SIA and SIA Engg, both have been sold down lately and apart from reason due to rising crude oil price, there isn't any new news to warrant a selling down.  Both companies ( part of STI index stocks ) will be reporting their FY12 earning in first week of May and should be declaring their respective final dividend.  Both gave up bumper dividend last year this time ( SIA $1.20/share, SIA Engg $0.24/share ) and might not repeat such a generous act this year, nevertheless from past records, both companies never under rewards shareholders.  The recent sold down has made valuation attraction.

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