Friday, January 18, 2013

Market Summary -- 18th Jan 13

FTSE STI closed 3,211.22, up 16.12 points or +0.50% with a total volume of 4.94b and a total value of S$1.39b.  Total number of advance vs decline was 283 vs 134.  Of the 30 component index stocks, 6 closed negative, 4 unchanged and 20 closed positive.  The top 5 gainer component stocks were :-

1. JMH 400US$  +0.970
2. Jardine C&C  +0.610
3. KepCorp  +0.110
4. SIA  +0.100
5. F&N  +0.080

The top 5 loser component stocks were :-

1. CityDev  -0.150
2. JSH 500US$  -0.080
3. ST Engg  -0.030
4. UOB  -0.020
5. CapitaMall  -0.010

US market closed at least +0.50% yesterday due to positive economic data in jobless claims and housing start figure.  Asian bourses were all positive for the day taking cue from US and also better than expected China 4Q GDP.  Nikkei +2.86%, SSE +1.41% and HSI +1.12%.  STI rose 0.50% with moderate volume and value and 20 of the 30 index stocks registered positive closing.

US corporate earning yesterday from BofA, Citigroup and Intel were mixed as investors cheered on the positive economic data.  China 4Q GDP came in +7.9% against expectation of +7.8% further affirm China economy growth is gaining traction after past months of slowing down.

Apart from tracking global events, investors in STI also focusing on corporate earning.  3 of the S-Reits reported this week all coming in either better or in line with expectation and starting next week more S-Reits and blue chips like KepCorp and Kepland will be rolling out their earning.

Positive economic data and firm corporation earning are providing the support for market now against the worries of the US debt ceiling.

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