Thursday, November 7, 2013

Market Summary -- 7th Nov 13

FTSE STI closed 3,202.10, down 3.19 points or -0.10% with a total volume of 1.80b and a total value of S$860M.  Total number of advance vs decline was 160 vs 237.  Of the 30 component index stocks, 9 closed positive, 6 unchanged and 15 in the red.  The top 5 gainer component stocks were :-

1. Kep Corp  +0.090
2. HKLand US$  +0.040
3. DBS  +0.030
4. Wilmar  +0.030
5. UOB  +0.020

The top 5 loser component stocks were :-

1. JMH 400US$  -0.240
2. SIA Engg  -0.050
3. Semb Corp  -0.050
4. GLP  -0.050
5. CityDev  -0.050

US markets closed mostly positive with DJ and S&P500 in record high region.  Asian bourses were however mostly down for the day.  Nikkei -0.76%, SSE -0.48% and HSI 0.68%.  STI closed -0.10% in thin volume and value day.  Only 9 of the 30 index stocks managed to register positive closing.

US markets are in record high region but that is not something to cheer about.  With all those fundamental issues like debt ceiling, high unemployment rate, stalling growth and not to mention the high risk accompany by US Fed stimulus program still there the market performance does not related justifiable to the fundamental.  Asian bourses were on a cautious mode for the day with couple of events like ECB decision on interest rate and US 3Q GDP tonight follows by US non-farm payroll tomorrow. 

STI tracking regional bourses closed negative for the day but was a better performer as in general the market was flat for the day.  Thin volume and value indicating most not participating and waiting by the side.  Though global economy is linked in a way but US issue is US and if rest of the world have the buffer to absorb those external shock, it can bring resilience to their respective economy growth.  For Singapore, there are certain sectors that is resilient to external factor and by looking for opportunity in these sectors one still can get reasonable return from the stock market.

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