Wednesday, April 9, 2014

Market Summary -- 9th Apr 14

FTSE STI closed 3,209.92, up 5.83 points or +0.18% with a total volume of 2.19b and a total value of S$1.20b.  Total number of advance vs decline was 274 vs 177.  Of the 30 component index stocks, 14 closed positive, 3 unchanged and 13 in the red.  The top 5 gainer component stocks were :-

1. JMH 400US$  +1.390
2. JSH 500US$  +0.280
3. HKLand US$  +0.100
4. Kep Corp  +0.070
5. SIA  +0.050

The top 5 loser component stocks were :-

1. Jardine C&C  -0.350
2. CityDev  -0.120
3. Noble Grp  -0.045
4. Semb Corp  -0.040
5. UOB  -0.030
5. SIA Engg  -0.030
5. SGX  -0.030

US markets closed positive after 3 sessions of drop.  Asian bourses mostly closed positive with Nikkei -2.10%, SSE +0.33% and HSI +1.09%.  STI closed +0.18% in moderate volume and value with xx of the 30 index stocks posted gain.

An oversold rebound for US markets as investors await earning season.  After the bell, Alcoa released a set of earning that managed to beat estimate and forecast an upbeat future too.  Asia, except Nikkei which was dragged down due to strengthening in Yen managed to trade positive for the day.

STI was positive mostly helped by the blue chips while the broader market somehow very much divided.  Those usual punting micro-penny stocks continued to selling pressure, those laggard staying resilient and for those awaiting for earning to be released within this week or next have a positive biased movement.  The cautiousness could be due to waiting for catalysts from the earning.

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