Wednesday, April 2, 2014

Market Summary -- 2nd Apr 14

FTSE STI closed 3,192.78, down 5.74 points or -0.18% with a total volume of 2.00b and a total value of S$1.44b.  Total number of advance vs decline was 210 vs 220.  Of the 30 component index stocks, 11 closed positive, 3 unchanged and 16 in the red.  The top 5 gainer component stocks were :-

1. Noble Grp  +0.060
2. DBS  +0.040
3. OCBC  +0.040
4. Capitaland  +0.030
5. CapitaMall  +0.025
5. ComfortDelGro  +0.025

The top 5 loser component stocks were :-

1. JSH 500US$  -0.940
2. JMH 400US$  -0.910
3. CityDev  -0.170
4. SIA  -0.100
5. Jardine C&C  -0.090

US markets closed with a gain of at least 0.5% with S&P500 setting a new record high.  Asian bourses were mostly positive taking the lead from US.  Nikkei +1.04%, SSE +0.56% and HSI +0.34%.  STI however failed to close positive after past 4 sessions of consecutive gain with a -0.18% closing in moderate volume and value.  11 of the 30 index stocks posted gain.

US ISM data for March released yesterday showed continue expansion despite a slight drop from previous month and that was enough for US markets to hit positive note.  That sentiment spread to Asia with most of them closing higher.  US ADP job data will be releasing tonight followed by Friday non-farm payroll.  These 2 numbers would be getting investors attention for this week before earning season starts next week.

STI after 4 straight session of gain finally failed to hold for the 5th day as profit taking kicked in.  It was a flat performance for the day despite failing to close positive as traders taking a pause to digest the recent gain.  The weakness might cause short-term traders to take up short positions but is the risk worth it ?  What needed now is focus on the earning season and not taking those short-term views to position oneself for it, micro-penny for punting all do not touch !!!

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