Tuesday, April 24, 2012

Market Summary -- 24th Apr 12

FTSE STI closed 2,973.84, up 11.49 points or +0.39% with a total volume of 5.12b and a total value of S$980M.  Total number of advance vs decline was 297 vs 129.  Of the 30 component index stocks, 18 closed positive, 5 remained unchanged and 7 closed negative.  The top 5 gainer component stocks were :-

1. HKLand US$  +0.100
2. UOB  +0.100
3. SIA  +0.080
4. OCBC  +0.070
5. Jardine C&C  +0.050

The top 5 loser component stocks were :-

1. JSH 500US$  -0.220
2. SembMar  -0.030
3. ST Engg  -0.030
4. ComfortDelGro  -0.010
5. NOL  -0.005
5. GoldenAgr  -0.005
5. CapitaMall  -0.005

US markets fell average at least 0.80% yesterday night weighing down by China and Europe PMI and EU political uncertainties that investors felt might impact the ongoing restructuring to resolve the debt issue.  Asian bourses were however mixed for the day after yesterday selling down.  Nikkei closed -0.78%, SSE +0.01% and HSI +0.26%.  STI +0.39% in a huge volume exceeding 5 billion ( which has not happened since 2007 ) but daily value was just S$980M.  Of the 30 index stocks, 18 managed to register positive closing.

The weak PMI from China and Europe was not something of surprise.  The nervous created by EU political events unsettled some confidence in investors despite recent IMF raising its firewall to S$430 billion as investors concerned of change of hand in EU leadership might derail the current restructuring to resolve the debt crisis.  That is not something unexpected but it is also something investors need to be cautious with.  While overall, the EU political events might create some roadblocks in the months ahead towards resolving the debt crisis, the bigger picture still remain the same, EU need to restructure, cut their debts in order to resolve the crisis.

In Singapore, couple of blue chips going Ex-Dividend this week especially those index stocks and that have piled up some selling pressure to the STI.  The huge volume with small value indicating investors are shunning the blue chips and speculating on the penny and micro penny to make some quick profit.  Do be careful with those penny and micro penny, stories of possible M&A could just pop up and jack the price high but if end of the day no such an events, the selling down will be painful.  For investors will less risk appetite is best to stay away from those and focus on the more fundamental strong stocks.

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