Wednesday, June 26, 2013

Market Summary -- 26th Jun 13

FTSE STI closed 3,104.40, up 14.47 points or +0.47% with a total volume of 1.82b and a total value of S$1.17b.  Total number of advance vs decline was 189 vs 171.  Of the 30 component index stocks, 22 closed positive, 3 unchanged and 5 in the red.  The top 5 gainer component stocks were :-

1. CityDev  +0.150
2. Kep Corp  +0.120
3. HKLand US$  +0.100
4. SIA  +0.090
5. ST Engg  +0.080

The top 5 loser component stocks were :-

1. JSH 500US$  -1.040
2. Jardine C&C  -0.340
3. UOB  -0.130
4. JMH 400US$  -0.100
5. Olam  -0.010

US markets closed average 0.8% after better than expected home sales data.  Asian bourses were however mixed for the day with Nikkei -1.04%, SSE +0.06% and HSI +2.43%.  STI advanced 0.47% in thin volume and value day.  22 of the 30 index stocks posted positive closing.

Global markets appeared to be stabilized from US Fed tapering and China credit squeeze issue.  With 2 days to end of 1H2013 and 2 weeks to earning season start, fund managers will be busying adjusting their portfolio.  If based on fundamental and current stock prices, fund managers should be buying baring any unexpected global economic events.

STI continued the rebound from yesterday with bargain hunters buying into the blue chips and the battled down S-Reits.  Singapore also reported a better than expected May Industrial Output this afternoon coming in at +2.1% on year vs +0.3% expected.  This helped to shift the sentiment away from bearish.  However, the thin volume suggesting most still cautious and stay on sideline.  1H2013 window dressing and next month earning season are something for short-term investors/traders to look forwards to.

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