Friday, February 14, 2014

Market Summary -- 14th Feb 14

FTSE STI closed 3,038.71, down 1.19 points or -0.04% with a total volume of 1.77b and a total value of S$872M.  Total number of advance vs decline was 213 vs 198.  Of the 30 component index stocks, 14 closed positive, 2 unchanged and 14 in the red.  The top 5 gainer component stocks were :-

1. JMH 400US$  +0.500
2. CapMallsAsia  +0.055
3. OCBC  +0.050
4. GLP  +0.040
5. Kep Corp  +0.040
5. Olam  +0.040
5. SIA  +0.040
5. SIA Engg  +0.040

The top 5 loser component stocks were :-

1. Jardine C&C  -0.340
2. JSH 500US$  -0.270
3. UOB  -0.080
4. CityDev  -0.070
5. DBS  -0.050

US markets rose at least 0.4% yesterday despite some missed economic data.  Asian bourses were mixed for the day with Nikkei -1.53%, SSE +0.83% and HSI +0.60%.  STI swing between positive and negative closing flat in thin volume and value day.  14 of the 30 index stocks posted gain.

US weekly jobless claims rise more than expected and retail sales in January fell but that didn't stop Wall Streets from closing positive.  Asian bourses were mixed after China released its January CPI coming in more than expected at 2.5%.  Mixed set of economic resulting in mixed closing for Asia bourses.

STI was practically flat throughout the day with Jardine group of shares and bank stocks (DBS and UOB) weighing down the index.  Both DBS and OCBC announced earning this morning with DBS recording a record revenue for the year but shrank in 4Q earning.  OCBC on the other hand produced a better than expected set of result.  UOB will be releasing after market close.  Index stocks were divided causing flat STI but the broader market appeared to have an upward momentum.  Should there be no unexpected and negative events coming out next, global markets could be slowly galloping up next.

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