Wednesday, January 30, 2013

Market Summary -- 30th Jan 13

FTSE STI closed 3,285.90, up 26.15 points or +0.80% with a total volume of 4.21b and a total value of S$1.73b.  Total number of advance vs decline was 300 vs 128.  Of the 30 component index stocks, 2 closed negative, 6 unchanged and 22 closed positive.  The top 5 gainer component stocks were :-

1. JMH 400US$  +1.000
2. JSH 500US$  +0.600
3. CityDev  +0.380
4. Jardine C&C  +0.200
5. SIA Engg  +0.190

The 2 loser component stocks were :-

1. StarHub  -0.040
2. Genting SP  -0.005

US markets closed positive again yesterday with DJ and S&P500 hitting new 5-years high due to mixture of corporate earning and economic data.  Asian bourses continued the rally with Nikkei +2.28% as Yen weakening further, SSE +1.00% and HSI +0.71%.  STI moved up 0.80% in moderate volume and value though volume was lesser than yesterday.  22 of the 30 index stocks posted positive closing.

Couple of events for the remaining of the week.  US FOMC meeting outcome, US GDP, economic data such as jobless claims, non-farm payroll and corporate earning.  Investors might be focusing on US FOMC meeting to look out for any signal given by the Fed about withdrawal of QE.  Asian bourses were doing window dressing for the 1st month of 2013.  Will not be surprised the window dressing continues tomorrow.  What to look out for in general will be after mid-Feb when corporate earning almost finishes and could be seeing softening and pulling back on the market.

For STI, after the White Paper on Population came out yesterday, infrastructure related stocks like property, transportation, construction, etc were given a lift today in anticipation of more projects being rolled out when Government ramps up for infrastructure expansion.

Meanwhile do enjoy the last leg of the bull run.

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