Tuesday, October 29, 2013

Market Summary -- 29th Oct 13

FTSE STI closed 3,208.82, up 0.97 points or +0.03% with a total volume of 1.89b and a total value of S$870M.  Total number of advance vs decline was 183 vs 238.  Of the 40 component index stocks, 12 closed positive, 5 unchanged and 13 in the red.  The top 5 gainer component stocks were :-

1. CityDev  +0.100
2. HKLand US$  +0.100
3. DBS  +0.080
4. OCBC  +0.030
5. SGX  +0.030
5. SPH  +0.030

The top 5 loser component stocks were :-

1. JMH 400US$  -1.180
2. JSH 500US$  -0.450
3. Jardine C&C  -0.140
4. SIA Engg  -0.040
5. SembMar  -0.040

US markets closed flat yesterday and Asian bourses were mostly down for the day.  Nikkei -0.49%, SSE -0.23% and HSI +0.18%.  STI though swinging between gain and loss but practically it was flat and closed +0.03% in thin volume and value day.  12 of the 30 index stocks posted gain.

Investors at the moment are digesting between economic data and corporate earning and also awaiting for the US Fed FOMC meeting this week.  Most do not expect US Fed to commence tapering during this coming meeting though.  Japan this morning reported retail sales and household spending data all beating expectation but the strengthening of the Yen caused concern which dragged down Nikkei.

With balance news from both positive and negative, STI practically was directionless for the day and with short-term punters staying away the penny stocks, trading activities were also muted.  For those which moved up merely due to positive news from earning or corporate action like CD.  Apart from that, investors are just waiting for catalysts to re-enter the market.

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