Tuesday, July 15, 2014

Market Summary -- 15th Jul 14

FTSE STI closed 3,291.42, up 0.44 points or +0.01% with a total volume of 1.42b and a total value of S$916M.  Total number of advance vs decline was 198 vs 222.  Of the 30 component index stocks, 15 closed positive, 4 unchanged and 11 in the red.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.410
2. OCBC  +0.080
3. SIA  +0.060
4. CityDev  +0.030
5. SingTel  +0.030

The top 5 loser component stocks were :-

1. JSH 500USD  -0.660
2. JMH 400USD  -0.640
3. HongkondLand USD  -0.150
4. UOB  -0.100
5. SPH  -0.030

US markets closed positive yesterday gaining at least 0.4%.  Asian bourses taking the cue were mostly positive for the day.  Nikkei +0.64%, SSE +0.18% and HSI +0.49%.  STI however was flat for the day with thin volume and value.  15 of the 30 index stocks managed to register positive closing.

Positive earning from Citigroup helped US markets to move up higher.  The positive sentiment spread to Asia markets despite BOJ this morning lowered Japan growth forecast while maintaining its monetary policy as status quo.  More major US banks will be releasing their earning this week and Fed Chairman Janet Yellen will be giving her testimony to the congress today.  Investors will also be waiting for tomorrow China 2Q GDP number.

STI was different from regional bourses as the lack of interest caused it to be flat for the day.  There was a bit of cautiousness as investors await for more corporate earning this week.  While those scheduled to release earning this week and next saw buying activities, the broader market still largely in range bound.

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