Wednesday, December 26, 2012

Market Summary -- 26th Dec 12

FTSE STI closed 3,180.81, up 12.24 points or +0.39% with total volume of 3.34b and a total value of S$781M.  Total number of advance vs decline was 300 vs 105.  Of the 30 component index stocks, 8 closed negative, 3 unchanged and 19 closed positive.  The top 5 gainer component stocks were :-

1. JSH 500US$  +0.470
2. JMH 400US$  +0.140
3. Jardine C&C  +0.100
4. KepCorp  +0.090
5. UOB  +0.080

The top 5 loser component stocks were :-

1. SIA  -0.040
2. HKLand US$  -0.030
3. DBS  -0.020
4. StarHub  -0.010
5. SembCorp  -0.010
5. Olam  -0.010
5. F&N  -0.010

US markets closed in the red on Christmas eve due to concern of fiscal cliff.  Asian bourses were mostly positive for the day.  Nikkei +1.49%, SSE +0.25% and HSI was closed for Boxing Day.  STI rose 0.39% to a new 52-week high with heavy volume of more than 3 billion but total value was extremely thin of not more than S$800M.  19 of the index stocks managed to post positive closing.

The issue of whether a deal can be made before year end on the fiscal cliff still weigh on investors but Asian markets were however on a different mindset.  Investors at the moment ignoring the impact of the fiscal cliff and continue to drive up Asian bourses.  A good sign or a bad sign ?

Singapore reported its November Industrial Output this afternoon coming in at +1.9% on Month and +3.1% on Year.  On Month basis was better than expected but on Year basis was worse than expected.  STI hit new 52-week high with the Jardine group of shares pushing the index up.  Volume was heavy but mainly due to contribution from the penny and micro-penny stocks as total value came in way below S$1b.  Not really a healthy sign though.  Still have to be cautious with the market in general.

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