Monday, August 12, 2013

Market Summary -- 12th Aug 13

FTSE STI closed 3,232.24, up 2.33 points or +0.07% with a total volume of 2.43b and a total value of S$1.34b.  Total number of advance vs decline was 245 vs 186.  Of the 30 component index stocks, 13 closed positive, 3 unchanged and 14 in the red.  The top 5 gainer component stocks were :-

1. JMH 400US$  +0.900
2. JSH 500US$  +0.670
3. UOB  +0.190
4. SGX  +0.130
5. Kep Corp  +0.110

The top 5 loser component stocks were :-

1. Jardine C&C  -0.420
2. SPH  -0.050
3. SingTel  -0.040
4. OCBC  -0.040
5. Capitaland  -0.040

US markets closed negative last Friday, Asian bourses were mixed for the day with Nikkei -0.70%, SSE +2.39% and HSI +2.13%.  STI though closed positive but was relatively flat in another thin volume and value day.  13 of the 30 index stocks posted gain.

It was a heavy economic data day with Japan 2Q GDP came in +2.6% vs expectation of +3.6% and that caused Nikkei to be in the red.  On the other hand SSE and HSI managed to do a 2% rally as the China economic data for the past few days of inflation, trade data and factory output all pointing to the positive side.  On Europe side, economic data also pointing to Euro zone coming out of recession.  These positive data at the moment are offsetting the as usual over-reacting fear of US Fed tapering.

Singapore after the long holiday last week reopened with investors divided between fundamental (economic data) and sentiment.  This morning Singapore reported a better than expected 2Q GDP coming in at +3.8% vs +3.7%.  Data was positive but most choose to be cautious as Singapore open model economy is very subjecting to swing due to external factors.  Earning season also coming to an end and that further putting investors sideline due to shortage of catalysts.  STI will be range bound till September and this is the period to look for resilient and bottoming by observing how market react to negative news or events.

No comments:

Post a Comment