Friday, April 25, 2014

Market Summary -- 25th Apr 14

FTSE STI closed 3,267.57, down 16.36 points or -0.50% with a total volume of 2.00b and a total value of S$1.26b.  Total number of advance vs decline was 165 vs 269.  Of the 30 component index stocks, 4 closed positive, 1 unchanged and 25 in the red.  The 4 gainer component stocks were :-

1. Jardine C&C  +0.050
2. Sembcorp Ind  +0.030
3. CapMallsAsia  +0.010
4. ComfortDelGro  +0.010

The top 5 loser component stocks were :-

1. JSH 500USD  -0.210
2. UOB  -0.140
3. DBS  -0.100
4. CityDev  -0.100
5. Kep Corp  -0.080

US markets closed positive last night but Asian bourses were mixed with mostly in the red.  Nikkei +0.17%, SSE -1.00% and HSI -1.50%.  STI fell 0.50% in relatively thin volume day with only 4 of the 30 index stocks posted gain.

It was a corporate earning that dictated the direction for US markets yesterday and it should be so for next week too.  Japan reported its March CPI this morning coming in at +1.3%, flat from previous month while rest of the regional bourses were seen on profit taking and lack of positive catalysts due to soft corporate earning and concern of the Ukraine issue after Ukrainian troops killed several pro-Russian rebels.  US also threaten for more sanctions on Russia.

With weekend coming, lacking of positive catalysts and concern of what might happen over the weekend in Ukraine, STI was seen profit taking as investors preferred to wait and observe for perhaps some stability.  While most of the big cap stocks were down, mid-cap stocks were mixed and some still attract bargain hunting.  The penny and micro-penny were also mostly down for the day as punters closing off positions for the weekend.  STI might be experienced volatile sessions next week with the 3 local banks releasing their earning and also US Fed FOMC meeting.  Nevertheless, stay focus on the fundamental and that is matter most now.

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