Tuesday, May 20, 2014

Market Summary -- 20th May 14

FTSE STI closed 3,265.47, up 3.04 points or +0.09% with a total volume of 1.34b and a total value of S$999M.  Total number of advance vs decline was 210 vs 218.  Of the 30 component index stocks, 12 closed positive, 6 unchanged and 12 in the red.  The top 5 gainer component stocks were :-

1. UOB  +0.080
2. ComfortDelGro  +0.070
3. CityDev  +0.040
4. Sembcorp Ind  +0.040
5. HongkongLand USD  +0.030
5. Keppel Corp  +0.030
5. SingTel  +0.030

The top 5 loser component stocks were :-

1. Jardine C&C  -0.450
2. JMH 400USD  -0.400
3. SIA  -0.080
4. Wilmar  -0.030
5. Sembcorp Marine  -0.030

US markets closed positive yesterday and Asian bourses were mostly positive too.  Nikkei +0.49%, SSE +0.15% and HSI +0.57%.  Like yesterday, STI remained flat for the day but with thinner volume and value.  12 of the 30 index stocks posted gain.

Small-cap and tech stocks rebounded lifted US markets to positive closing.  Asian bourses were also positive rebound from yesterday sell down.  Apart from that, nothing much of events to talk about with exception that Thai Army declared martial law to curb the recent protest and unrest.  That led Thailand stock market to fell more than 1%.  Rest of regional, investors were awaiting for China HSBC flash PMI and minutes from last US Fed FOMC meeting.

Singapore reported its 1Q2014 GDP this morning coming in at +4.9%, the same as last year same period and that gave it an annualized figure of +2.3%, in the range of between +2% to +4% of what was projected.  STI reaction to that was pretty muted as there wasn't any surprise to the upside or downside.  The broader market looked to be biased towards the downside at the moment due to lack of positive catalysts, concern that global markets will soon heading south and next month will be World Cup month.  For trading wise, might not be a good trading month till July but it could be a accumulation month for those with longer time frame.

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