Tuesday, February 18, 2014

Market Summary -- 18th Feb 14

FTSE STI closed 3,070.78, up 1.50 points or +0.05% with a total volume of 2.99b and a total value of S$915M.  Total number of advance vs decline was 267 vs 150.  Of the 30 component index stocks, 9 closed positive, 6 unchanged and 15 in the red.  The top 5 gainer component stocks were :-

1. JMH 400US$  +0.250
2. OCBC  +0.090
3. GLP  +0.050
4. JSH 500US$  +0.020
5. Semb Corp  +0.020
5. UOB  +0.020

The top 5 loser component stocks were :-

1. SembMar  -0.080
2. SIA  -0.050
3. DBS  -0.040
4. SingTel  -0.020
5. Genting SP  -0.015

US markets were closed for holiday and Asian bourses were mixed for the day.  Nikkei +3.13%, SSE -0.77% and HSI +0.23%.  STI swinging between positive and negative closed flat in moderate volume but thin value.  9 of the 30 index stocks posted gain on close.

Without any lead from US markets, investors turn to profit taking.  The only event for the day was BOJ's decision.  BOJ did not provide further easing in its monetary policy despite the recent economic data slowing down, that perhaps gave investors a confident that BOJ and Japanese Government still confident of the economic growth.  That caused Nikkei to rally at least 3%.  Rest of Asia were on profit taking mode in anticipation of a possible pull back in US markets tonight and also watchful of US Fed FOMC minutes for last month.

For STI it was profit taking especially for the blue chips causing the index to be flat.  Broader markets were however more active with the micro-penny stocks.  News and better than expected earnings were enough to lead punters in the punt up those micro-pennies.  The sentiment might be positive for those but be wary of value being over-stretched the underlying fundamental and be alert on taking profit for those punting.  S-Reits were moving up, this is something to ponder about given all the negative towards them recently.

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