Tuesday, April 15, 2014

Market Summary -- 15th Apr 14

FTSE STI closed 3,246.32, up 31.49 points or +0.98% with a total volume of 2.56b and a total value of S$1.77b.  Total number of advance vs decline was 250 vs 205.  Of the 30 component index stocks, 20 closed positive, 4 unchanged and 6 in the red.  The top 5 gainer component stocks were :-

1. JMH 400USD  +0.510
2. CapitaMallsAsia  +0.385
3. UOB  +0.210
4. Capitaland  +0.190
5. Jardine C&C  +0.150

The top 5 loser component stocks were :-

1. JSH 500USD  -0.100
2. SGX  -0.080
3. Keppel Corp  -0.030
4. ST Engineering  -0.020
5. OCBC Bank  -0.020

US markets rebounded yesterday with at least 0.5% gain.  Asian bourses however were mixed for the day.  Nikkei +0.62%, SSE -1.40% and HSI -1.60%.  STI was up 0.98% in moderate volume and value with 20 of the 30 index stocks posted gain.

Better than expected Citigroup earning and Retail Sales data helped US markets to rebound from past days of selling down.  Asian were divided with one half tracking the US positive close last night while the other hand down on cautious ahead of tomorrow China GDP and other economic data.  As earning season is undergoing, prepare for volatile session ahead in particular US markets.  Another concern that weighed on investors was Ukraine issue.  That might have impact more on Europe than Asia for the time being.

STI rose 0.98% mainly due to the pop up by Capitaland and CapMallsAsia after Capitaland offering $2.22/share to take over CapMallsAsia.  The two also churned out quite a volume for the day.  On the broader market, sentiment for the day was positive biased probably due to the US markets overnight.  Prices might be positively trend up but still lacking of underlying catalysts and hence, profit taking could be kicked in a few days time causing stock prices to retreat.

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