Thursday, February 27, 2014

Market Summary -- 27th Feb 14

FTSE STI closed 3,096.74, up 8.49 points or +0.27% with a total volume of 2.67b and a total value of S$891M.  Total number of advance vs decline was 214 vs 207.  Of the 30 component index stocks, 20 closed positive, 3 unchanged and 7 in the red.  The top 5 gainer component stocks were :-

1. Jardine C&C  +1.080
2. SIA  +0.110
3. JSH 500US$  +0.100
4. SGX  +0.090
5. Semb Corp  +0.060

The top 5 loser component stocks were :-

1. JMH 400US$  -0.200
2. UOB  -0.050
3. DBS  -0.050
4. Wilmar  -0.020
5. THBEV  -0.010
5. SPH  -0.010
5. HPH Trust US$  -0.010

US markets closed slightly higher yesterday while Asian bourses were mixed but mostly positive.  Nikkei -0.32%, SSE +0.30% and HSI +1.74%.  STI recovered portion of yesterday 0.5% loss with a +0.27% closing with moderate volume and but thin.  20 of the 30 index stocks posted gain.

Investors in US were waiting for tonight US Fed Chairman Janet Yellen's testimony and couple of economic data end of this week resulting in choppy trades in US markets yesterday.  With no concrete lead, Asian bourses were also mixed but most managed to close positive for the day.  As corporate earning drew to a close this month, economic data and global events will be again back to center-stage to dictate the direction of the markets.

STI managed to recover some ground from yesterday 0.5% drop as bargain hunting coming in.  Blue chips and S-Reits were on a bargain hunting day while the micro-penny were subjected to profit taking.  There could be rotational play between the blue chips, penny and micro-penny till April when the next earning season commences.  What to look out for is funds buying.  The smarter and wiser funds will be quietly accumulating now.

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