Wednesday, September 25, 2013

Market Summary -- 25th Sep 13

FTSE STI closed 3,208.58, down 3.17 points or -0.10% with a total volume of 9.09b and a total value of S$1.46b.  Total number of advance vs decline was 290 vs 184.  Of the 30 component index stocks, 15 closed positive, 4 unchanged and 11 in the red.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.300
2. CityDev  +0.080
3. DBS  +0.070
4. Semb Corp  +0.060
5. OCBC  +0.050

The top 5 loser component stocks were :-

1. JMH 400US$  -1.110
2. JSH 500US$  -0.620
3. SGX  -0.220
4. Kep Corp  -0.070
5. Wilmar  -0.030

US markets were mostly lower yesterday and Asian bourses were no mood of a upwards movement too.  Nikkei -0.76%, SSE -0.41% and HSI +0.13%.  STI opened positive but retreated to negative on close in a slightly heavier volume but thin value day.  15 of the 30 index stocks managed to register positive closing.

The US debt ceiling weighed on global markets.  Investors were not in a mood to buy unless some positive resolutions to the debt ceiling are confirmed.

STI was lower as investors shun the blue chips given the uncertainty and weak sentiments.  Again, penny and micro penny stocks dominated the activity for the day as punters punt for quick profit.  To be exact, there was a rotation of penny stocks play happening as punters hunt for quick gain.  Market should be in this type of trading activities until mid October. 

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