Monday, July 21, 2014

Market Summary -- 21st Jul 14

FTSE STI closed 3,314.27, up 3.74 points or +0.11% with a total volume of 1.54b and a total value of S$670M.  Total number of advance vs decline was 219 vs 188.  Of the 30 component index stocks, 12 closed positive, 9 unchanged and 9 in the red.  The top 5 gainer component stocks were :-

1. JSH 500USD  +0.250
2. UOB  +0.110
3. JMH 400USD  +0.080
4. SIA  +0.060
5. DBS  +0.050

The top 5 loser component stocks were :-

1. Jardine C&C  -0.530
2. ST Engg  -0.030
3. SIA Engg  -0.020
4. StarHub  -0.010
5. OCBC  -0.010
5. HongkongLand USD  -0.010
5. GLP  -0.010
5. CityDev  -0.010

US markets closed average +1% last Friday and Asian bourses were mostly down for the day.  Nikkei was closed for holiday, SSE -0.22% and HSI -0.29%.  STI rose to highest in 14-month but failed to keep up the gain closing flat in thin volume and value.  12 of the 30 index stocks posted gain.

US markets rebounded from the knee-jerk reaction from the MH17 shot down incident but Asian bourses were however being cautious for the day awaiting for the MH17 incident to be fully resolved.  Reports of international body was not given free access to the cash site to recover the dead bodies and conduct investigation led to UN to pass a resolution this morning to address the issue.  Finger pointing continued as to who to blame for the shot down.  The truth will not be known until the black box of MH17 is being handed over to the international investigation body to conduct the investigation.  On the other hand, both US and EU are preparing more sanctions on Russia who they felt were responsible for the shot down.  More sanctions will have big impact on Russia economy and in a way will hit the EU due to the energy trade between them.  While more corporate earning will continue to announce this week, investors will also be watching for later of the week China HSBC flash PMI.

STI started the day positively but failed to keep up the gain as daily volume and value continue to be on the thin side.  This week will see corporate earning in full swing.  Though positive corporate earning might not see STI going on a short-term bull run but will be something for investors to differentiate between fundamental strong and not stocks.

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