Tuesday, July 22, 2014

Market Summary -- 22nd Jul 14

FTSE STI closed 3,316.91, up 2.64 points or +0.08% with a total volume of 2.10b and a total value of S$966M.  Total number of advance vs decline was 230 vs 183.  Of the 30 component index stocks, 13 closed positive, 7 unchanged and 10 in the red.  The top 5 gainer component stocks were :-

1. DBS  +0.130
2. CityDev  +0.120
3. JMH 400USD  +0.090
4. StarHub  +0.040
5. CapitaMall  +0.025

The top 5 loser component stocks were :-

1. JSH 500USD  -0.400
2. Jardine C&C  -0.100
3. UOB  -0.030
4. SGX  -0.030
5. GLP  -0.030

US markets fell around 0.2% yesterday but Asian bourses were mostly positive for the day with Nikkei +0.84%, SSE +1.02% and HI +1.69%.  STI unfortunately was flat for the day with thin volume and value.  13 of the 30 index stocks registered gain.

After a 1% rose the day before, US markets fell into profit taking with investors cautious on the Russia sanctions and Israel issue.  Asian bourses on the other hand managed to move up higher for the day as those 2 issues got eased for the day.  Couple of events for investors to look forwards to this week apart from corporate earning.  US GDP and China HSBC flash PMI are among those investors are keeping a close eyes on.

STI opened slight down but managed to recover and close positive but with very thin volume and value.  While the movement of the blue chips helped STI to move higher, mass market participation was not seen as investors still taking cautious stance and that bring the question of whether the upwards movement can be sustained.  More corporate earning will be released this week and so far those results that were released showed no surprise from the downside.

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