Tuesday, April 29, 2014

Market Summary -- 29th Apr 14

FTSE STI closed 3,237.74, down 4.97 points or -0.15% with a total volume of 1.37b and a total value of S$1.05b.  Total number of advance vs decline was 177 vs 231.  Of the 30 component index stocks, 19 closed positive, 3 unchanged and 8 closed negative.  The top 5 gainer component stocks were :-

1. DBS  +0.120
2. SIA  +0.100
3. JSH 500USD  +0.250
4. HongkongLand USD  +0.080
5. CityDev  +0.070

The top 5 loser component stocks were :-

1. UOB  -0.960
2. Jardine C&C  -0.960
3. JMH 400USD  -0.190
4. Wilmar  -0.090
5. SIA Engg  -0.070

US markets closed mixed but mostly positive yesterday.  Asian bourses were also mixed for the day but mostly rebounded from yesterday selling.  Nikkei was closed for holiday, SSE +0.84% and HSI +1.45%.  STI fell 0.15% but managed to stage an intra-day recovery of dropping almost 1%.  Total volume and value were thin as compared to past days.  19 of the 30 index stocks managed to register positive closing.

M&A activities helped US markets to offset the drag in tech stocks allowing DJ and S&P500 to close positive.  Asian bourses were mixed given the lack of catalysts as investors were awaiting for US Fed FOMC meeting outcome tomorrow night, economic data for month of April and weighing out events in Ukraine crisis.

STI fell almost 1% in the earlier part of the day weighing down by index stocks going XD (UOB dropping 4.3%).  Minus off those factor, STI should be in positive region for the day.  Broad market appeared to be facing selling pressure but if looking carefully in particular each individual transactions of the stock (less those punting micro-pennies), there was an inertia for STI to move up.

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