Wednesday, January 9, 2013

Market Summary -- 9th Jan 13

FTSE STI closed 3,220.41, up 14.89 points or +0.46% with a total volume of 4.47b and a total value of S$1.78b.  Total number of advance vs decline was 358 vs 121.  Of the 30 component index stocks, 5 closed negative, 4 unchanged and 21 closed positive.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.220
2. UOB  +0.210
3. CityDev  +0.180
4. HKLand US$  +0.110
5. Wilmar  +0.110

The 5 loser component stocks were :-

1. JSH 500US$  -0.900
2. JMH 400US$  -0.730
3. SembCorp  -0.020
4. ST Engg  -0.010
5. Capitaland  -0.010

US markets closed negative ahead of earning season.  Asian bourses were mostly positive for the day with Nikkei +0.67%, SSE -0.03% and HSI +0.46%.  STI rose 0.46% in heavy volume but lesser than yesterday and moderate value as 21 of the 30 index stocks posted positive closing.

Alcoa after yesterday market closed posted a better than expected 4Q sale and that lifted the sentiment in Asian bourses today anticipation of better corporate earnings.  As such, penny stocks trading has reduced as indicating by the declining in daily volume as investors refocus back to the blue chips and strong fundamental stocks ahead of corporate earning.

While it is too early to conclude whether better than expected corporate earning from Singapore companies, investors should be cautious that penny and micro-penny stocks play might be game over for now.

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