Tuesday, August 6, 2013

Market Summary -- 6th Aug 13

FTSE STI closed 3,224.89, down 16.90 points or -0.52% with a total volume of 2.02b and a total value of S$1.09b.  Total number of advance vs decline was 195 vs 265.  Of the 30 component index stocks, 7 closed positive, 3 unchanged and 20 in the red.  The top 5 gainer component stocks were :-

1. JMH 400US$  +0.950
2. Semb Corp  +0.060
3. JSH 500US$  +0.040
4. Semb Mar  +0.030
5. THBEV  +0.015

The top 5 loser component stocks were :-

1. DBS  -0.310
2. OCBC  -0.190
3. UOB  -0.180
4. SGX  -0.080
5. ST Engg  -0.060
5. Kep Corp  -0.060

US markets closed mostly down after hitting record high the day before.  Asian bourses were mixed for the day despite most starting the day in the red.  Nikkei +1.00%, SSE +0.49% and HSI -1.34%.  STI continued the drop from yesterday with another 0.52%.  Total volume and value for the day were thin and only 7 of the 30 index stocks managed to post gain.

US non-manufacturing PMI came out better than expected yesterday and that probably triggered the question of will US Fed taper soon again.  That was definitely a good excuse to sell taking profit after US markets hitting record high the day before.  Asian bourses were range bound despite the mixed closing as investors focused on corporate earning.

STI continued the thin volume and value day on the short trading week as investors have no incentive to open any position over the long weekend holiday.  Sentiments wise were mostly profit taking, playing to the corporate earning and range bound. 

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