Tuesday, June 11, 2013

Market Summary -- 11th Jun 13

FTSE STI closed 3,170.38, down 30.13 points or -0.94% with a total volume of 2.63b and a total value of S$1.53b.  Total number of advance vs decline was 83 vs 370.  Of the 30 component index stocks, 9 closed positive, 1 unchanged and 20 in the red.  The top 5 gainer component stocks were :-

1. SingTel  +0.060
2. UOB  +0.040
3. Wilmar  +0.020
4. SIA Engg  +0.020
5. ComfortDelGro  +0.020
5. SPH  +0.020

The top 5 loser component stocks were :-

1. JMH 400US$  -3.150
2. Jardine C&C  -2.530
3. JSH 500US$  -1.110
4. HKLand US$  -0.190
5. CityDev  -0.170

US markets closed flat yesterday.  Asian bourses continued the selling after yesterday rebound.  Nikkei -1.45%, SSE still close for holiday and HSI -1.20%.  STI in line with regional bourses basically gave back all the gain yesterday closing -0.94%.  Only 9 of the 30 index stocks managed to post gain.  Daily volume and value was thin.

The US non-farm payroll data last Friday was satisfaction but with the strengthening of USD and Yen, investors are currently facing a double whammy of USD and Yen carry trade unwinding resulting in selling of equity globally.  Other than that, fundamentally nothing has changed globally in term of economy.  Outcome of BOJ meeting today also maintained as per status quo, not impressing investors.

STI again under selling pressure in broad market following regional bourses.  This time round apart from the blue chips and big cap stocks, penny were also under selling pressure.  A sense that investors feeling or starting to feel despair and anyhow throw out.  It is a relatively good sign that bottom is round the corner.

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