Tuesday, July 3, 2012

Market Summay -- 3rd Jul 12

FTSE STI closed 2,945.33, up 34.74 points or +1.19% with a total volume of 1.50b and a total value of S$1.26b.  Total number of advance vs decline was 228 vs 128.  Of the 30 component index stocks, 26 closed positive, 3 closed negative and 1 remained unchanged.  The top 5 gainer component stocks were :-

1. JSH 500US$  +0.700
2. JMH 400US$  +0.400
3. UOB  +0.370
4. KepCorp  +0.230
5. DBS  +0.160

The 3 loser component stocks were :-

1. Genting SP  -0.020
2. Olam  -0.005
3. NobleGrp  -0.005

US markets opened positive but soon sank into negative after ISM data of 49.7 indicating contraction released but managed to recover the loss and closed mix.  Asian bourses continued the advance with Nikkei closed +0.70%, SSE +0.14% and HSI reopened after yesterday holiday closed +1.39%.  STI advanced another 1.19% in moderate volume but total value of the day improving from past weeks.  26 of the 30 index stocks managed to close positive.

The weak US ISM data initially caused worries to investors but later investors chose to look at it this will give reason for US Fed to do another QE and thus stocks rallied in anticipation or hoping of that.  Stress again, DO NOT bet on US Fed launching QE as that can never help US economy.

Funds inflow to Asian bourses ahead of earning season starting in 2 weeks time.  Only focus on the fundamental strong stocks with past 2 quarters giving resilient result to play for earning season.

No comments:

Post a Comment