Thursday, November 28, 2013

Market Summary -- 28th Nov 13

FTSE STI closed 3,186.37, up 14.31 points or +0.45% with a total volume of 1.27b and a total value of S$692M.  Total number of advance vs decline was 229 vs 159.  Of the 30 component index stocks, 18 closed positive, 3 unchanged and 9 in the red.  The top 5 gainer component stocks were :-

1. JMH 400US$  +0.470
2. JSH 500US$  +0.430
3. UOB  +0.180
4. CityDev  +0.160
5. Kep Corp  +0.070

The top 5 loser component stocks were :-

1. Jardine C&C  -0.390
2. HKLand US$  -0.070
3. SIA Engg  -0.030
4. SingTel  -0.020
5. StarHub  -0.010
5. SPH  -0.010
5. ComfortDelGro  -0.010
5. CapMallsAsia  -0.010

US markets closed positive at record high after upbeat economic data in weekly jobless claims and consumer sentiment.  Asian bourses were mostly positive for the day taking the cue from US markets.  Nikkei +1.80%, SSE +0.83% and HSI -0.07%.  STI rose 0.45% in thin volume and value day with 18 of the index stocks registered positive closing.

US markets rallied to record high but nothing to cheer about as they are merely building up bubbles and it is just a matter of times that will get burst.  Most of Asian bourses were positive for the day but off day high with exception that HSI gave up all the gain and closed -0.07%.  US markets will be closed tonight for Thanksgiving day and tomorrow will be fund managers doing last ditch if window dressing for their portfolio before heading to holiday. 

STI stayed positive for the day with thin volume mainly due to blue chips while the boarder markets were in narrow range with muted activities.  Tomorrow will be an interesting day as it will be fund managers window dressing day for year end.  They could dress up or down the stocks, nothing is absolute but one thing for sure is should a dress up occur, be careful there will be no follow through next and if there is a dress up, doesn't mean the price will go down further.  While US markets are building up bubbles, Asian bourses are presenting with value hunting opportunity as funds chasing the US bubbles.

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