Wednesday, June 25, 2014

Market Summary -- 25th Jun 14

FTSE STI closed 3,261.54, down 0.49 points or -0.02% with a total volume of 2.19b and a total value of S$861M.  Total number of advance vs decline was 161 vs 251.  Of the 30 component index stocks, 9 closed positive, 3 unchanged and 18 in the red.  The top 5 gainer component stocks were :-

1. CityDev  +0.070
2. HongkongLand USD  +0.070
3. Jardine C&C  +0.060
4. SingTel  +0.040
5. GLP  +0.020
5. UOB  +0.020

The top 5 loser component stocks were :-

1. JMH 400USD  -0.470
2. DBS  -0.090
3. SIA  -0.040
4. Noble  -0.035
5. SIA Engg  -0.030
5. ComfortDelGro  -0.030

US markets fell at least 0.4% yesterday.  Asian bourses were mostly in the red taking cue from US markets.  Nikkei -0.71%, SSE -0.41% and HSI -0.06%.  STI swinging between gain and loss eventually closed flat in moderate volume and thin value.  Only 8 of the 30 index stocks posted gain.

There was positive news on better than expected housing and consumer confidence data but the Iraq violence overshadowed those as US markets pulled back from record closing.  Asian bourses taking the cue were mostly lowered though some bargain hunting could be observed but those failed to prevent negative closing for regional bourses.

STI was one of the better performance among the regional bourses with yet another flat closing in moderate volume and thin value.  The moderate volume was mainly due to short-term and contra players selling off in fear after the drop in US markets.  Again main activity was the penny stocks in which punters just rotating among those in churn for profit.  With earning season just about 2.5 to 3 weeks away, focus should be on those fundamental stocks and lookout for opportunity or weakness to accumulate.

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