Monday, September 23, 2013

Market Summary -- 23rd Sep 13

FTSE STI closed 3,214.25, down 23.28 points or -0.72% with a total volume of 4.33b and a total value of S$1.29b.  Total number of advance vs decline was 189 vs 277.  Of the 30 component index stocks, 8 closed positive, 2 unchanged and 20 in the red.  The top 5 gainer component stocks were :-

1. Wilmar  +0.030
2. ST Engg  +0.020
3. Capitaland  +0.010
4. SPH  +0.010
5. CapMallsAsia  +0.005
5. GoldenAgr  +0.005
5. HPH Trust  +0.005
5. Olam  +0.005

The top 5 loser component stocks were :-

1. JMH 400US$  -2.100
2. Jardine C&C  -1.610
3. JSH 500US$  -1.190
4. DBS  -0.120
5. CityDev  -0.120

US markets closed in the red last Friday and Asian bourses were mixed for the day with mostly down.  Nikkei was closed for holiday, SSE +1.33% and HSI only traded in the afternoon session closed -0.56%.  STI fell 0.72% in thin value day.  Only 8 of the 30 index stocks registered positive closing.

German Chancellor Angela Merkel won the election yesterday and that brought some relief to Euro zone.  It was another of those economic data day with HSBC released flash China PMI for September coming in at 51.2, hitting 6-month high resulting in SSE rallied at least 1%.  In the afternoon, Euro zone PMI came in at 52.1, registered sixth consecutive month of higher readings.  However, those upbeat data were offset by the worries of how US lawmakers going to do to resolve the debt ceiling issue as if nothing was to be done, US will have to default.  That issue should be hogging the headline and dictate market direction for the time being.

Singapore released its August CPI coming in at +2.0% yoy up from +1.9% in July.  Majority of the investors were sideline and stay cautious with the US debt ceiling issue.  Penny stocks were again dominated the activity for STI as punters punt for quick profit.  While some penny stocks might be rallying past days due to catching up on fundamental but should they start to turn overly optimistic, the price could easily overrun the fundamental and create nothing but bubbles.

No comments:

Post a Comment