Friday, June 7, 2013

Market Summary -- 7th Jun 13

FTSE STI closed 3,184.72, down 8.79 points or -0.28% with a total volume of 2.49b and a total value of S$1.57b.  Total number of advance vs decline was 158 vs 222.  Of the 30 component index stocks, 7 closed positive, 6 unchanged and 17 in the red.  The top 5 gainer component stocks were :-

1. GLP  +0.060
2. StarHub  +0.050
3. SingTel  +0.040
4. ComfortDelGro  +0.030
5. SembMar  +0.010
5. SPH  +0.010

The top 5 loser component stocks were :-

1. Jardine C&C  -0.520
2. JSH 500US$  -0.310
3. JMH 400US$  -0.230
4. UOB  -0.220
5. SIA  -0.110

US markets posted an at least 0.5% gain last night after jobless claims data came in inline with expectation.  Asian bourses were however mostly down for the day with Nikkei -0.21%, SSE -1.33% and HSI -1.21%. STI managed to perform better than regional bourses with a flat closing in thin volume and value day.  7 of the 30 index stocks posted gain.

Inline jobless claims data ahead of tonight US non-farm payroll and yesterday ECB maintained interest rate at 0.5% citing possible of setting a negative interest rate if situation permits it to do so.  Asian bourses were in a way nervous towards US non-farm payroll data.  While that was the most talk about but it could turn out to be a non-event thing also.  US need to generate at least 200k of jobs monthly to sustain the job market recovery and any other figure less than that US Fed will continue to support it with stimulus.

STI today trying a rebound but met with selling resistance as contra players and day traders closing off position ahead of the US non-farm payroll and weekend.  Sentiment might be biased towards the downside but this is also where bottom could be hit anytime.

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