Friday, January 4, 2013

Market Summary -- 4th Jan 13

FTSE STI closed 3,225.22, up 0.42 points or +0.01% with a total volume of 7.02b and a total value of S$1.29b.  Total number of advance vs decline was 158 vs 319.  Of the 30 component index stocks, 9 closed positive, 6 unchanged and 15 closed negative.  The top 5 gainer component stocks were :-

1. JMH 400US$  +0.280
2. DBS  +0.080
3. CapMallsAsia  +0.055
4. HKLand US$  +0.020
5. ComfortDelGro  +0.015

The top 5 loser component stocks were :-

1. UOB  -0.150
2. CityDev  -0.080
3. SembCorp  -0.060
4. OCBC  -0.060
5. SembMar  -0.050

US markets closed in the red yesterday with series of mixed economic data and US Fed minutes.  Asian bourses were mixed for the day.  Nikkei and SSH reopened for 2013 playing catch up closed +2.82% and +0.35% respectively.  HSI closed -0.29% and STI was flat at 0.01% with an extremely high volume of more than 7 billion but total value was thin at S$1.29b.  Only 9 of the 30 index stocks posted gain.

US ADP data was better than expected indicating a possible good set of non-farm payroll data tonight while jobless claims rose more than expected.  What triggered the selling off was US Fed minutes in which it said they were considering withdrawing stimulus in 2013.  With US Fed pegged stimulus program to US unemployment rate and inflation, there is every chance should either of the condition meets the Fed will have to terminate any stimulus.  A lot of combination is possible now.  Do seriously thing about if US withdraw stimulus, what will happen to the stock markets in which they were driven by excessive liquidity in low interest rate environment.

STI has a strong volume today but mainly due to punting of penny stocks.  Other than that, the blue chips were pretty flat as investors exercised cautious over them.  Punter do be careful on the penny and when the music stops make sure you are not the only one still standing.

No comments:

Post a Comment