Friday, May 9, 2014

Market Summary -- 9th May 14

FTSE STI closed 3,252.13, up 4.44 points or +0.14% with a total volume of 1.67b and a total value of S$1.11b.  Total number of advance vs decline was 153 vs 235.  Of the 30 component index stocks, 10 closed positive, 9 unchanged and 11 in the red.  The top 5 gainer component stocks were :-

1. UOB  +0.450
2. JMH 400USD  +0.300
3. HongkongLand USD  +0.120
4. Keppel Corp  +0.040
5. DBS  +0.030

The top 5 loser component stocks were :-

1. Jardine C&C  -0.830
2. JSH 500USD  -0.360
3. Wilmar  -0.130
4. SIA  -0.040
5. Capitaland  -0.030

US markets gave up earlier gain to close mostly in the red.  Asian bourses were also mixed for the day.  Nikkei +0.25%, SSE -0.21% and HSI +0.12%.  STI was flat for the day in thin volume and value.  10 of the 30 index stocks posted gain.

Economic events were mixed (US weekly jobless claims fell, ECB considered possible monetary action in June to support Euro and Ukraine tension still far from over).  With the flattish lead from US, Asia markets were looking at China inflation data for direction.  China inflation for April fell to 1.8% from 2.4% in March while expectation was 2.1%.  That figure drew some fear of possible deflation in China and looking for possible monetary policies from Chinese Government. 

STI was flat swinging between gain and loss as investors were left clueless.  Economic events were mixed and nobody know what going to happen in Ukraine over the weekend.  Profit taking and possible taking up short-position capped any upside for the market for the time being.  Bargain hunters were very cautious at the moment.  Blue chips were flat but micro-penny and punting stocks were mostly down as short-term traders selling off.  Mid-cap still in range bound mode.  STI could be in directionless mode for rest of the month till July (June being World Cup month will even draw traders away from market).

No comments:

Post a Comment