Thursday, July 4, 2013

Market Summary -- 4th Jul 13

FTSE STI closed 3,147.12, up 17.63 points or +0.56% with a total volume of 1.42b and a total value of S$699M.  Total number of advance vs decline was 266 vs 124.  Of the 30 component index stocks, 24 closed positive, 2 unchanged and 4 in the red.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.380
2. JMH 400US$  +0.310
3. DBS  +0.230
4. UOB  +0.170
5. CityDev  +0.130

The 4 loser component stocks were :-

1. JSH 500US$  -0.190
2. HKLand US$  -0.070
3. Wilmar  -0.030
4. GoldenAgr  -0.005

US markets closed positive recovering from negative in the earlier session in thin volume.  Asian bourses were mostly positive for the day.  Nikkei -0.26%, SSE +0.59% and HSI +1.60%.  STI rebounded from yesterday sold down in a very thin volume and value day.  24 of the 30 index stocks posted positive closing.

A better than expected ADP job data and weekly jobless claims offset a below expectation trade data and political issue in both Portugal and Egypt helped US markets to close positive in 1/2 day trading session ahead of today holiday.  Asian bourses mostly rebounded from yesterday selling down as investors awaiting for US non-farm payroll data this Friday.

Singapore PMI for June continued to expand from previous month and coupling with positive lead from Asian bourses managed to stage a small rebound from yesterday sold down.  The cautiousness still there as investors waiting for US unemployment data and earning season which will be starting in 1.5 to 2 weeks time.  Look at fundamental strong companies for the past quarters of earning and any one showing resilient will be good to pick on dip for earning season play, in particular S-Reits.

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