Wednesday, July 4, 2012

Market Summary -- 4th Jul 12

FTSE STI closed 2,948.77, up 3.44 points or +0.12% with a total volume of 1.67b and a total value of S$1.12b.  Total number of advance vs decline was 195 vs 176.  Of the 30 component index stocks, 14 closed positive, 3 remained unchanged and 13 closed negative.  The top 5 gainer component stocks were :-

1. JSH 500US$  +0.500
2. HKLand US$  +0.120
3. F&N  +0.070
4. SGX  +0.050
5. SingTel  +0.030

The top 5 loser component stocks were :-

1. Jardine C&C  -0.290
2. JMH 400US$  -0.150
3. CityDev  -0.100
4. Wilmar  -0.050
5. DBS  -0.050

US markets closed at least +0.5% yesterday night after better than expected auto sales data in a half-day session ahead of holiday.  Asian bourses closed mixed for the day with Nikkei closed +0.41%, SSE -0.08% and HSI -0.13%.  STI though spent the day in positive region but closed flattish at +0.12% in moderate volume and again total value exceed S$1b.  14 of the 30 index stocks managed to register positive closing.

Profit taking and lacking of big catalyst temporary slowed down the advance of most bourses.  Anticipation of tomorrow ECB might do a rate cut is there but do cautious of sell on news after markets have moved up for past days.  Also this Friday US unemployment data also attract investors in focus before the start of earning season next week for US and the week after next for Singapore.

Be careful not to chase stocks.  Wait for pull back to determine where the support is when focus on earning season play.

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