Thursday, July 24, 2014

Market Summary -- 24th Jul 14

FTSE STI closed 3,353.89, up 13.19 points or +0.39% with a total volume of 1.67b and a total value of S$1.03b.  Total number of advance vs decline was 233 vs 191.  Of the 30 component index stocks, 21 closed positive, 2 unchanged and 7 in the red.  The top 5 gainer component stocks were :-

1. CityDev  +0.170
2. JSH 500USD  +0.130
3. DBS  +0.120
4. SGX  +0.120
5. JMH 400USD  +0.100

The top 5 loser component stocks were :-

1. Jardine C&C  -0.350
2. UOB  -0.150
3. SIA Engg  -0.140
4. GLP  -0.020
5. SembCorp  -0.010
5. Capitaland  -0.010

US markets closed mixed with S&P500 hitting fresh high.  Asian bourses were mostly positive for the day with Nikkei -0.29%, SSE +1.28% and HSI +0.71%.  STI continued to rise another 0.39% slightly higher volume and value than past days.  21 of the 30 index stocks posted gain.

Positive corporate earning continued to send US stock markets higher and Asian were mostly higher too for the day after China data.  China HSBC flash PMI for July came in 52, a 18-month high and better than 50.7 in June.  That news sent most Asian bourses higher.

STI added another 0.39% tracking regional bourses but again on thin volume and value.  Regional sentiments and largely positive corporate earning pushed STI to another 14-month high.  While short-term wise market might be biased towards upside but cautious of over optimism getting into it and things just fall apart later.  This is also where building up short position is an opportunity as you never know when the music will stop.

No comments:

Post a Comment