Thursday, February 13, 2014

Market Summary -- 13th Feb 14

FTSE STI closed 3,039.90, up 4.45 points or +0.15% with a total volume of 1.84b and a total value of S$1.01b.  Total number of advance vs decline was 174 vs 268.  Of the 30 component index stocks, 13 closed positive, 4 unchanged and 13 in the red.  The top 5 gainer component stocks were :-

1. JSH 500US$  +0.410
2. DBS  +0.120
3. UOB  +0.100
4. Semb Corp  +0.090
5. Jardine C&C  +0.080

The top 5 loser component stocks were :-

1. JMH 400US$  -0.440
2. SIA  -0.170
3. SIA Engg  -0.140
4. Kep Corp  -0.140
5. CityDev  0.060

US markets closed mixed with mostly down yesterday.  Asian bourses were on a profit taking session with mostly in the red.  Nikkei -1.79%, SSE -0.55% and HSI -0.54%.  STI was flat for the day closing +0.15% but better performed than regional bourses in thin volume day.  13 of the 30 index stocks posted gain.

It was profit taking for US yesterday resulting in mixed but mostly lower closing.  Asian bourses after past days of positive were hit by profit taking as there wasn't any specific events to look forwards to in the short-term.

STI though outperformed regional bourses with a gain but was practically flat.  Gain on heavy weight like SingTel (after this morning announcement of earning), DBS and UOB moving up ahead of tomorrow earning release helped to maintain STI in the positive region.  Broader markets were in general hit by profit taking and majority of them closed lower.  Short-term wise, profit taking should be continue for the next few sessions and this is when the support levels should be monitored closely as that could provide the basis for consolidation.

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