Friday, April 4, 2014

Market Summary -- 4th Apr 14

FTSE STI closed 3,212.72, down 7.34 points or -0.23% with a total volume of 1.92b and a total value of S$1.03b.  Total number of advance vs decline was 235 vs 214.  Of the 30 component index stocks, 7 closed positive, 9 unchanged and 14 in the red.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.550
2. Kep Corp  +0.120
3. CityDev  +0.060
4. OCBC  +0.050
5. DBS  +0.040

The top 5 loser component stocks were :-

1. JMH 400US$  -0.450
2. JSH 500US$  -0.440
3. UOB  -0.140
4. HKLand US$  -0.110
5. SPH  -0.070
5. Semb Corp  -0.070

US markets closed down yesterday and Asian bourses were mixed with mostly in the red.  Nikkei -0.05%, SSE +0.74% and HSI -0.24%.  STI retreated 0.23% in a thinner volume and value than past days.  7 of the 30 index stocks posted gain.

US weekly jobless claims rose slightly yesterday and investors were seen taking profit ahead of tonight non-form payroll.  A strong set of data tonight will see US Fed continue to taper next and that caused investors to be mixed as to whether believe in the economic recovery or worry about ending of stimulus and thereby interest rate hike.  Over Europe, ECB kept interest rate unchanged but claimed that it will not hesitate to act if deflation becomes serious.  For Asia, it was the story of cautious causing the retreat.

STI pulled back as short-term traders and punters taking profit and stay cautious ahead of tonight US non-farm payroll.  Anything can happen to the market (either swing up or down) and for them cautious is the best strategy.  There shouldn't be any divided view on a strong set of employment data from US tonight for Asia, US Fed tapering and interest rate hike are just moving thing back to the normal level.  It is the underlying fundamental of Asia economy that investors should be focused on.

No comments:

Post a Comment