Tuesday, August 13, 2013

Market Summary -- 13th Aug 13

FTSE STI closed 3,244.12, up 11.88 points or +0.37% with a total volume of 2.34b and a total value of S$1.31b.  Total number of advance vs decline was 271 vs 204.  Of the 30 component index stocks, 20 closed positive, 1 unchanged and 9 in the red.  The top 5 gainer component stocks were :-

1. JSH 500US$  +0.250
2. Kep Corp  +0.190
3. Jardine C&C  +0.170
4. DBS  +0.120
5. JMH 400US$  +0.100

The top 5 loser component stocks were :-

1. UOB  -0.150
2. StarHub  -0.020
3. GLP  -0.020
4. GoldenAgr  -0.015
5. SIA Engg  -0.010
5. SGX  -0.010
5. NobleGrp  -0.010
5. HKLand US$  -0.010

US markets closed mixed yesterday but Asian bourses were mostly positive for the day with Nikkei +2.57%, SSE +0.23% and HSI +1.21%.  STI tracking regional bourses rose 0.37% in another of normal volume and value day with xx of the 30 index stocks posted gain.

Economic data were pretty much dominated nowadays markets direction as corporates' earning coming to an end.  However, most still mixed towards the data result in markets in range bound mode.  The recent China positive data at the moment were providing some catalysts to the badly sold down SSE which sentiment spreading to HSI.  Japan after yesterday weaker than expected GDP will have another event to consider in the near term regarding the proposed sales tax.

STI though mostly positive but much of the activities were on then penny in which punters trying for quick profit with intra-day trades.  There was something interesting though that in the afternoon after European markets opened and despite the positive opening, STI shares appeared to be soften by some selling pressure.  European funds selling in STI ? If so, why ? rotating to higher-beta stocks ? rotating back to Europe as Europe economic conditions are improving as days go by ?.  Stocks under selling pressure in the afternoon were mostly S-Reits and other high-yieldig stocks.  Nevertheless, STI still in range bound mode.

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