Wednesday, May 28, 2014

Market Summary -- 28th May 14

FTSE STI closed 3,271.84 down 2.22 points or -0.07% with a total volume of 2.00b and a total value of S$1.18b.  Total number of advance vs decline was 272 vs 154.  Of the 30 component index stocks, 10 closed positive, 5 unchanged and 15 in the red.  The top 5 gainer component stocks were :-

1. JSH 500USD  +0.470
2. Capitaland  +0.040
3. GLP  +0.040
4. Sembcorp  +0.040
5. Hongkong Land USD  +0.030
5. SIA Engg  +0.030

The top 5 loser component stocks were :-

1. Jardine C&C  -0.400
2. JMH 400USD  -0.190
3. UOB  -0.060
4. SingTel  -0.040
5. Keppel Corp  -0.040

US markets closed positive with S&P500 hitting yet another fresh high.  Asian bourses were mostly positive for the day with Nikkei +0.24%, SSE +0.77% and HSI +0.59%.  STI flat with -0.07% after swinging between positive and negative throughout the day.  However, volume and value were slightly higher than past days and 10 of the 30 index stocks posted gain.

A surprise jump in US Durable Goods provided the positive spark for US markets to trend higher yesterday.  For Asia bourses, most opened higher due to the positive sentiment from US but most pared gain on closed.  Nothing surprising as investors taking opportunity to lock in profit.  While US markets keep inching up, setting new high, the risk is also growing as valuation is stretching to the limit.  Correction will be coming soon.

For STI most of the blue chips were practically flat for the day causing the index to move between gain and loss.  However, the mid, small and penny stocks dominated the day activities with most of them moving higher.  Those movement was encouraging but beware and cautious of distribution.  When the time for short-term investors/traders to get out, they must get out if not will feel the squeeze later when correction kicks in.

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