Friday, November 1, 2013

Market Summary -- 1st Nov 13

FTSE STI closed 3,201.20, down 9.47 points or -0.29% with a total volume of 2.17b and a total value of S$871M.  Total number of advance vs decline was 245 vs 168.  Of the 30 component index stocks, 7 closed positive, 1 unchanged and 22 in the red.  The top 5 gainer component stocks were :-

1. HKLand US$  +0.100
2. Kep Corp  +0.050
3. SGX  +0.030
4. CapMallsAsia  +0.010
5. SIA Engg  +0.010
5. SPH  +0.010

The top 5 loser component stocks were :-

1. JMH 400US$  -0.340
2. JSH 500US$  -0.170
3. Jardine C&C  -0.130
4. SIA  -0.100
5. DBS  -0.060
5. CityDev  -0.060

US markets closed down for the 2nd day in a row and Asian bourses were mixed for the day.  Nikkei -0.88%, SSE +0.37% and HSI +0.19%.  STI fell 0.29% in thin volume and value day and only xx of the 30 index stocks registered positive closing.

Investors concerned of no confirmation from US Fed on when it will start taper and fear that it could still happen end of this year and that the reason for US markets to fall after hitting record high.  Asian bourses were mixed as divided between bearish sentiment from US markets and positive economic news from China.  China released its PMI for October coming in 51.4 better than estimate.  That piece of new helped SSE and HSI to avoid the drop for the day.

STI were on profit taking day after negative sentiment from US markets was not enough to offset the positive news, China PMI and better than expected earning from DBS and OCBC (released this morning).  The positive side for this down day was the thin volume and value as short-term traders wind down position ahead of the weekend.  Investors have to keep in mind that noises are the short-term sentiment while long-term fundamental still intact. 

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