Friday, July 26, 2013

Market Summary -- 26th Jul 13

FTSE STI closed 3,236.01, up 0.42 points or +0.01% with a total volume of 2.57b and a total value of S$975M.  Total number of advance vs decline was 224 vs 180.  Of the 30 component index stocks, 12 closed positive, 7 unchanged and 11 in the red.  The top 5 gainer component stocks were :-

1. CityDev  +0.160
2. UOB  +0.090
3. DBS  +0.060
4. SPH  +0.050
5. Capitaland  +0.040
5. GLP  +0.040
5. OCBC  +0.040

The top 5 loser component stocks were :-

1. JMH 400US$  -0.950
2. Jardine C&C  -0.920
3. JSH 500US$  -0.750
4. Semb Corp  -0.060
5. SIA  -0.030

US markets reversed earlier loss and closed positive led by tech stocks.  Asian bourses were mixed with mostly down for the day.  Nikkei -2.97%, SSE -0.51% and HSI +0.31%.  STI was pretty much flat for the day with a +0.01% closing in high volume but thin value day.  12 of the 30 index stocks registered positive closing.

Japan reported a 0.3% inflation finally emerged from deflation and that caused Japanese Yen to strengthen causing Nikkei to drop almost 3%.  Rest of the regional bourses were pretty much directionless as investors taking profit for the weekend.

STI was flat with thin value and most of the stocks were range bound.  STI  was weighed down by the 3 Jardine stocks (why in the first place the 3 Jardine stocks are part of STI component when they don't actually represent Singapore economy ?) Though most of the corporate earnings were pretty much in line and resilient, that catalyst was not enough to convince investors to buy and remain cautious waiting for more cues.  STI could be in range bound, consolidating mode till mid to end of August.

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