Tuesday, January 21, 2014

Market Summary -- 21st Jan 14

FTSE STI closed 3,133.76, up 4.97 points or +0.16% with a total volume of 3.30b and a total value of S$956M.  Total number of advance vs decline was 258 vs 161.  Of the 30 component index stocks, 12 closed positive, 4 unchanged and 14 in the red.  The top 5 gainer component stocks were :-

1. JMH 400US$  +0.970
2. HKLand US$  +0.050
3. SIA Engg  +0.040
4. ComfortDelGro  +0.035
5. SembMar  +0.030
5. SingTel  +0.030

The top 5 loser component stocks were :-

1. Jardine C&C  -0.440
2. JSH 500US$  -0.100
3. Semb Corp  -0.060
4. DBS  -0.040
5. Wilmar  -0.030
5. UOB  -0.030

US markets closed for holiday yesterday and Asian bourses managed to rebound from yesterday selling down.  Nikkei +0.99%, SSE +0.86% and HSI +0.45%.  STI tracking regional bourses was in positive for the day closing +0.16% in moderate volume and thin value.  12 of the 30 index stocks registered positive closing.

Yesterday was fear of China liquidity issue and with PBOC stepping in today to ease, the fear was gone resulting in global markets rebounding. 

STI managed to rebound from yesterday sold down with mainly stocks that have reported their earning leading the rebound.  So far, corporate earning has been pretty much in line with expectation.  Micro-penny stocks also staged rebound today but careful of not getting caught.  As most of the players in those micro-penny stocks heavily relying on TA, it is not difficult to monitor for weakness.  Rebound with lower high is definitely an exit signal.  More blue chips corporate earning will be coming out the next few days, focus should be on those.

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