Tuesday, May 6, 2014

Market Summary -- 6th May 14

FTSE STI closed 3,245.56, up 3.96 points or +0.12% with a total volume of 1.25b and a total value of S$670M.  Total number of advance vs decline was 240 vs 186.  Of the 30 component index stocks, 13 closed positive, 6 unchanged and 11 in the red.  The top 5 gainer component stocks were :-

1. JMH 400USD  +0.360
2. UOB  +0.160
3. CityDev  +0.110
4. Genting SP  +0.035
5. Sembcorp Ind  +0.030
5. SIA Engg  +0.030

The top 5 loser component stocks were :-

1. Jardine C&C  -0.180
2. SPH  -0.060
3. HongkongLand USD  -0.040
4. DBS  -0.040
5. OCBC  -0.020
5. JSH 500USD  -0.020

US markets closed positive after an intra-day reversal.  Asian bourses were however muted as both Nikki and HSI were closed for holiday.  SSE stayed flat with +0.03% so as STI with +0.12% in a relatively thin volume and value day.  13 of the 30 index stocks registered positive closing.

Weak China economic data coupling with Ukraine tension allowed US markets to fall on opening but after an encouraging Service Sector ISM data, they did an intra-day reversal allowing to close at least +0.1%.  Asian bourses failed to take the cue as with Nikkei, HSI and KOSPI all closed for holiday, there were lack of lead resulting in most of them muted and flat for the day with thin volume.  There will be US Fed Chairman's testimonial for US lawmakers these 2 days and that will attract investors focus on US Fed assessment on US economy and its stance on monetary policies.

STI practically flat for the day with thin volume as investors staying sideline to wait for leads.  Punters and short-term traders also reside with "Sell in May and Go Away" type of mentality.  As earning season also coming to an end, global events should be in focus again.  While those might sway stocks one way or the other, nothing beats solely focus on fundamental and looking at the bigger picture.

No comments:

Post a Comment