Thursday, March 13, 2014

Market Summary -- 13th Mar 14

FTSE STI closed 3,081.39, down 16.04 points or -0.52% with a total volume of 2.00b and a total value of S$1.08b.   Total number of advance vs decline was 212 vs 200.  Of the 30 component index stocks, 8 closed positive, 3 unchanged and 19 in the red.  The top 5 gainer component stocks were :-

1. CityDev  +0.110
2. SIA  +0.080
3. UOB  +0.060
4. SPH  +0.030
5. THBEV  +0.015

The top 5 loser component stocks were :-

1. JMH 400US$  -0.560
2. JSH 500US$  -0.400
3. Kep Corp  -0.180
4. SIA Engg  -0.090
5. Semb Corp  -0.080

US markets closed mixed yesterday and Asian bourses though opened higher but closed mixed.  Nikkei -0.10%, SSE +1.07% and HSI -0.67%.  STI continued with the drop from yesterday by another 0.52% in moderate volume and value.  8 of the 30 index stocks posted gain.

The concerns of weak China economic data and Ukraine issue continued to weigh on investors with majority taking profit and stay on the cautious.  China economy has been in the "move 2 steps forwards and retract 1 backward" trend for past years already and the recent weak economic data should not be surprised either.  Those with the concern in need of tuning the mindset.  Ukraine issue short-term wise might not get an answer but from the bigger picture, none of the parties involved would want to get hit by it economically.

STI continued the profit taking on the blue chips.  For broader market, there is rotational play probably due to punters rotate from one counter to another (one sector to another) to churn profit.  For those with short-term view, do not get caught with the rotational play.  For those with long-term view, underlying has not changed and should patiently wait for opportunity.

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