Monday, January 14, 2013

Market Summary -- 14th Jan 13

FTSE STI closed 3,206.59, down 9.91 points or -0.31% with a total volume of 3.48b and a total value of S$1.87b.  Total number of advance vs decline was 196 vs 256.  Of the 30 component index stocks, 17 closed positive, 2 unchanged and 11 closed negative.  The top 5 gainer component stocks were :-

1. JMH 400US$  +1.900
2. JSH 500US$  +0.400
3. SGX  +0.110
4. HKLand US$  +0.080
5. SIA Engg  +0.080

The top 5 loser component stocks were :-

1. CityDev  -0.950
2. UOB  -0.440
3. Jardine C&C  -0.330
4. DBS  -0.290
5. Capitaland  -0.160

US markets closed mixed and flat last Friday after Well Fargo's earning.  Asian bourses were mostly positive for the day.  Nikkei closed for holiday, SSE +3.06% and HSI +0.64%.  STI was in red closing -0.31% in thinner volume as compared with past days and 17 of the 30 index stocks registered positive closing.

US big financial banks will start to report their earning this week and China economic data especially GDP will be closely watched for this week.  STI dropped for the day was mainly due to the drag in property and bank stocks after last Friday Government announced the 7th property cooling measures.  It was termed as a "tsunami" measures as it not only affect foreigner, PR and Singaporean on residential property, the industrial property also being slapped with seller stamp duty.  The effect on the property price probably will have to wait for at least 3 months to determine the impact of the latest cooling measures.

Other than that, investors will be focusing on stocks that will be reporting their earning this and next week.  The thinner volume also indicating tone down on punting of penny and micro-penny stocks and punters should stay away from those already.

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