Friday, June 13, 2014

Market Summary -- 13th Jun 14

FTSE STI closed 3,293.25, up 0.24 points or +0.01% with a total volume of 1.81b and a total value of S$873M.  Total number of advance vs decline was 191 vs 222.  Of the 30 component index stocks, 9 closed positive, 7 unchanged and 14 in the red.  The top 5 gainer component stocks were :-

1. JMH 400USD  +0.640
2. DBS  +0.070
3. Keppel Corp  +0.040
4. Hongkong Land USD  +0.010
5. StarHub  +0.010
5. ST Engg  +0.010
5. Wilmar  +0.010

The top 5 loser component stocks were :-

1. SIA  -0.210
2. JSH 500USD  -0.080
3. SPH  -0.040
4. Olam  -0.030
5. Jardine C&C  -0.030
5. ComfortDelGro  -0.030
5. CityDev  -0.030

US markets fell at least 0.65% yesterday but Asian bourses were positive for the day.  Nikkei +0.83%, SSE +0.93% and HSI +0.62%.  STI swinging between gain and loss eventually closing flat with moderate volume and thin value.  9 of the 30 index stocks posted gain.

US retails sales for May came in below expectation and weekly jobless claims rose triggered selling down in the US markets.  Asian bourses however mostly managed to rebound from yesterday selling down namely due to better than expected China retail sales data for May which came in +12.5% vs expectation of +12.1%.  This positive data might lead to a US markets rebound tonight but the question is not the rebound but rather are the US markets developing a down channel.  That is something need to be watch.  June due to World Cup might be a lull and dull period but Asian markets might be in a consolidation phase even if US markets are on a down channel.

STI again was flat for the day as penny and micro-penny stocks dominated the market activity with the blue chips practically hardly move at all.  This trend could just continue throughout whole of June but do monitor for accumulation opportunities for the big and mid-cap stocks.

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