Tuesday, November 5, 2013

Market Summary -- 5th Nov 13

FTSE STI closed 3,205.54, up 1.60 points or +0.05% with a total volume of 2.04b and a total value of S$868M.  Total number of advance vs decline was 208 vs 198.  Of the 30 component index stocks, 17 closed positive, 2 unchanged and 11 in the red.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.200
2. DBS  +0.090
3. SIA  +0.070
4. CityDev  +0.060
5. NobleGrp  +0.055

The top 5 loser component stocks were :-

1. JMH 400US$  -0.400
2. JSH 500US$  -0.360
3. Kep Corp  -0.100
4. StarHub  -0.090
5. SPH  -0.040

US markets closed positive yesterday with S&P500 near recent record high.  Asian bourses however were mixed for the day.  Nikkei +0.17%, SSE +0.35% and HSI -0.65%.  STI again flat for the day in thin volume and value day.  17 of the 30 index stocks registered positive closing.

Global markets were again refocus on the topics of US Fed tapering when one of the US Fed members raise concern of the risk of further stimulus yesterday.  It is time that investors should look past QE and focus on fundamental and ignoring whether when US Fed will taper.  This is absolutely not applicable to US markets as whether there is QE or not the current valuation in US markets does not relate to its fundamental.

STI in another muted day with most of the stocks moving in narrow range as lacking of catalysts to either move up higher or breakdown from here.  This scenario could happen till end of the year.  Sentiment wise at the present is not very positive but that does not mean fundamental wise is not.  The ability to think and look at things differently from majority will determine the rewards in the future.

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