Wednesday, June 12, 2013

Market Summary -- 12th Jun 13

FTSE STI closed 3,153.48, down 16.90 points or -0.53% with a total volume of 2.24b and a total value of S$1.30b.  Total number of advance vs decline was 138 vs 274.  Of the 30 component index stocks, 3 closed positive, 4 unchanged and 23 in the red.  The 3 gainer component stocks were :-

1. JMH 400US$  +2.300
2. JSH 500US$  +1.710
3. Jardine C&C  +0.370

The top 5 loser component stocks were :-

1. UOB  -0.170
2. DBS  -0.120
3. CityDev  -0.110
4. GLP  -0.080
5. ST Engg  -0.070
5. SIA  -0.070
5. SingTel  -0.070

US markets were on a rollar-coaster ride yesterday opening down almost 1%, managed to recover to slight down and eventually sold off to almost -1% on close.  Asian bourses were mostly down for the day with Nikkei -0.21%, SSE and HSI closed for holiday.  STI continued the sell down with a -0.53% closing in thin volume and value day.  Only 3 of the 30 index stocks managed to register positive closing.

The reason for yesterday US markets selling down was investors not very impressed with BOJ maintained stance on its current monetary policy, they want more aggressive but have they forget the more aggressive it is the higher the risk it will come along.  Be satisfy with what it is and not be greedy.

STI continued the sell down from blue chips, high-yield and defensive stocks.  Penny were pretty much muted today.  Now the cue is there, selling down is drying up especially for high-yield stocks, a rebound will follow and lead by none other than high-yield stocks.

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