Thursday, December 27, 2012

Market Summary -- 27th Dec 12

FTSE STI closed 3,183.93, up 3.12 points or +0.10% with a total volume of 2.82b and a total value of S$873M.  Total number of advance vs decline was 241 vs 189.  Of the 30 component index stocks, 14 closed positive, 4 unchanged and 12 closed negative.  The top 5 gainer component stocks were :-

1. JMH 400US$  +0.550
2. JSH 500US$  +0.530
3. Wilmar  +0.090
4. UOB  +0.060
5. StarHub  +0.040

The top 5 loser component stocks were :-

1. Jardine C&C  -0.150
2. SIA  -0.080
3. CityDev  -0.060
4. DBS  -0.050
5. GLP  -0.040

US markets closed negative again with average at least a 0.4% drop due to fiscal cliff concern.  Asian bourses were mixed and mostly closed positive for the day.  Nikkei +0.91%, SSE -0.60% and HSI +0.35%.  STI rose 0.10% in heavy volume of 2.82b but total value came in less than S$1b.  14 of the 30 index stocks managed to register positive closing.

The same old story weighed down US markets as the clock ticks towards the deadline for the fiscal cliff.  US President and its Congress have only a few more days to churn out some sort of deal even if a temporary one to avoid the fiscal cliff.  US Congress will be back to negotiation today after the Christmas break.

STI like in past days though index edged up in another new 52-week high but most activities were focus on the penny and micro-penny stocks.  Investors are being cautious on the blue chips awaiting for a more clearer cue from the US fiscal cliff.  Other than that, market was pretty quiet.

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