Tuesday, February 25, 2014

Market Summary -- 25th Feb 14

FTSE STI closed 3,103.62, down 2.22 points or -0.07% with a total volume of 2.12b and a total value of S$1.02b.  Total number of advance vs decline was 202 vs 221.  Of the 30 component index stocks, 13 closed positive, 4 unchanged and 13 in the red.  The top 5 gainer component stocks were :-

1. Wilmar  +0.090
2. UOB  +0.050
3. DBS  +0.040
4. SIA  +0.040
5. SPH  +0.030

The top 5 loser component stocks were :-

1. Jardine C&C  -1.220
2. JSH 500US$  -0.480
3. JMH 400US$  -0.350
4. SGX  -0.080
5. SembMar  -0.050

US markets closed positive with at least 0.6% gain with S&P500 just a touch from record high.  Asian bourses taking the cue mostly started positive but closed mixed with majority in the red.  Nikkei +1.44%, SSE -2.04% and HSI -0.32%.  STI started bright but failed to hold on swinging between gain and loss in the afternoon to eventually close flat with -0.07%.  Daily volume and value were again thin and 13 of the 30 index stocks managed to register gain.

While US markets continued to move up as investors pouring money into developed market but sustainability is a questionable.  Asian suffered again profit taking and funds outflow resulting in mostly in the red for the day.

STI failed to sustain the upwards movement with profit taking kicking in and most staying sideline as cautious of whether the recent up was sustainable.  Most of the activity was again on the micro-penny stocks in which punters were doing intra-day punting for quick profit.  Can expect short-term pulling back for STI but do not try to second guess to which level, best still focus on the fundamental and valuation of the stocks.

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