Monday, June 30, 2014

Market Summary -- 30th Jun 14

FTSE STI closed 3,255.67, down 15.38 points or -0.47% with a total volume of 2.33b and a total value of S$1.05b.  Total number of advance vs decline was 193 vs 250.  Of the 30 component index stocks, 6 closed positive, 6 unchanged and 18 in the red.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.460
2. Olam  +0.120
3. SembMar  +0.020
4. SGX  +0.020
5. GLP  +0.010

The top 5 loser component stocks were :-

1. JSH 500USD  -0.770
2. JMH 400USD  -0.690
3. CityDev  -0.180
4. UOB  -0.070
5. DBS  -0.060

US markets closed positive last Friday and Asian markets were mixed for the day.  Nikkei +0.44%, SSE +0.58% and HSI -0.13%.  STI fell 0.47% in moderate volume and thin value with only 6 of the 30 index stocks posted gain.

With little economic events last Friday, US markets managed to close positive but Asian bourses started the last day of 1H 2014 in mixed mode as investors are awaiting for this week important economic data namely, China official PMI for June and US non-farm payroll for June.  This morning Japanese released its Industrial Output for May coming in at +0.5% but below expectation.  Asian markets were on cautious and also some window dressing as fund managers adjusting their portfolio for 1H with some preferred to sell to lock in some profit for 2014 while others selectively accumulating for it.  HSI was relatively very volatile for the day swinging 1% intra-day probably due to some jittering ahead of tomorrow China PMI.

STI was on the wrong side of window dressing as the blue chips were being sold down probably due to funds locking in profit for 1H2014 and with already little interest in the market, the buying support was also weak.  Again, penny stocks dominated the day activity but most of these punters stocks were being sold down with probably punters locking in profit or squaring off position.  Taking aside the blue chips and penny, rest of the market was still in narrow range movement.  While some important global economic data will be releasing this week, focus should be on the coming earning which will be starting in 2 weeks time.

No comments:

Post a Comment