Thursday, May 15, 2014

Market Summary -- 15th May 14

FTSE STI closed 3,272.49, up 13.40 points or +0.41% with a total volume of 1.66b and a total value of S$1.27b.  Total number of advance vs decline was 223 vs 200.  Of the 30 component index stocks, 17 closed positive, 5 unchanged and 8 in the red.  The top 5 gainer component stocks were :-

1. UOB  +0.400
2. JMH 400USD  +0.170
3. JSH 500USD  +0.160
4. ComfortDelGro  +0.060
5. DBS  +0.050
5. HongkongLand USD  +0.050

The top 5 loser component stocks were :-

1. CityDev  -0.200
2. SGX  -0.060
3. Keppel Corp  -0.050
4. Noble  -0.015
5. ST Engg  -0.010
5. Sembcorp  -0.010
5. OCBC  -0.010
5. GoldenAgr  -0.010

US markets closed down yesterday and Asian bourses were mixed for the day.  Nikkei -0.75%, SSE -1.12% and HSI +0.66%.  STI continued to move up after yesterday with another +0.41% but in thin volume and value.  17 of the 30 index stocks posted gain.

US markets pulled back after hitting record high.  US also released its PPI for April coming in at +0.6% vs +0.2% expectation.  Asian markets were mixed with Nikkei fell despite a positive figure of +5.9% in 1Q GDP as Yen strengthen dragged down the market.  Rest of Asia were caught in profit taking and cautious bargain hunting.  US CPI will be released tonight and investors will definitely closely monitor that.

STI rose another 0.41% but on a broad base basis, there were more profit taking than bargain hunting.  Most of the stocks were swinging between support and resistance and that swing was enough for short-term traders and punters to participate in the market.  Rotation of penny and mid-cap stocks were also observed.  Those that were not moving past days will get the chance to move up.  For trader, do not chase up the price and anything wrong, be mindful to take profit and cut loss.  For investors, be patience to wait, will have another 1.5 to 2 months of opportunity to collect.

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