Thursday, October 3, 2013

Market Summary -- 3rd Oct 13

FTSE STI closed 3,144.79, down 7.79 points or -0.25% with a total volume of 3.19b and a total value of S$1.30b.  Total number of advance vs decline was 173 vs 239.  Of the 30 component index stocks, 8 closed positive, 5 unchanged and 17 closed in the red.  The top 5 gainer component stocks were :-

1. DBS  +0.090
2. SIA  +0.070
3. Kep Corp  +0.060
4. SIA Engg  +0.050
5. GLP  +0.040

The top 5 loser component stocks were :-

1. Jardine C&C  -0.540
2. JSH 500US$  -0.300
3. UOB  -0.180
4. HKLand US$  -0.140
5. JMH 400US$  -0.110

US markets closed negative yesterday with a miss expectation of ADP job number and concern of how US lawmakers going to resolve the debt ceiling as US Government entered partial shutdown mode.  Asian bourses were however mixed for the day with Nikkei -0.09%, HSI +1.00% and SSE still closed for holiday.  STI closed -0.25% in a thin volume and value day with only 8 of the 30 index stocks posted gain.

Global markets have entered a cautious and wait and see phase to see how US lawmakers going to navigate out of shutdown mode and overcome the debt ceiling. 

For STI punting activity on the penny stocks have ceased partly due to cautious and also trading curbs being imposed by brokerage houses on it.  The blue chips were just limbo in a narrow range as majority of the investors chose to stay sideline to wait and see.  This type of trading activity will be there until some new development on the US Government shutdown and debt ceiling.  For penny stocks if there isn't any fundamental to talk about, stay away.  For the blue chips and better fundamental stocks, watch for cheap valuation to bargain hunt.

No comments:

Post a Comment