Thursday, August 15, 2013

Market Summary -- 15th Aug 13

FTSE STI closed 3,220.92, down 27.74 points or -0.85% with a total volume of 2.01b and a total value of S$1.20b.  Total number of advance vs decline was 175 vs 246.  Of the 30 component index stocks, 2 closed positive, 2 unchanged and 26 in the red.  The 2 gainer component stocks were :-

1. JMH 400US$  +1.190
2. GoldenAgr  +0.005

The top 5 loser component stocks were :-

1. Jardine C&C  -0.490
2. UOB  -0.300
3. DBS  -0.250
4. OCBC  -0.110
5. HKLand US$  -0.090

US markets closed negative with average 0.5% drop and Asian bourses all closed in the red for the day with Nikkei -2.12%, SSE -0.87% and HSI -0.01%.  STI fell 0.85% in another of those "norm" volume and value day.  Only 2 index stocks managed to register positive closing.

Euro zone area has finally emerged from recession after yesterday GDP data but that news was offset by the as usual US Fed tapering resulting in most markets closing down as investors taking profit.  When markets pulled back, it was always the same old excuse of fear of US Fed tapering, absolutely nothing new.

STI after past 2 days of gain gave back all those gain today with a 0.85% drop as profit taking sat in as well as tracking regional bourses.  It was just those typical mindset in which regional markets down STI will follow.  While the majority of mindset is so, perhaps it is time to take advantage of those mindsets, beating the market with it as majority of the mindset usually could not beat the market.

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