Thursday, July 3, 2014

Market Summary -- 3rd Jul 14

FTSE STI closed 3,273.15, up 9.24 points or +0.28% with a total volume of 2.15b and a total value of S$1.03b.  Total number of advance vs decline was 253 vs 169.  Of the 30 component index stocks, 15 closed positive, 5 unchanged and 10 in the red.  The top 5 gainer component stocks were :-

1. UOB  +0.420
2. Jardine C&C  +0.180
3. DBS  +0.130
4. JMH 400USD  +0.060
5. CityDev  +0.040

The top 5 loser component stocks were :-

1. JSH 500USD  -0.240
2. SIA  -0.090
3. SembCorp  -0.030
4. Wilmar  -0.010
5. SIA Engg  -0.010
5. SingTel  -0.010
5. SembMar  -0.010
5. GLP  -0.010
5. Genting SP  -0.010
5. ComfortDelGro  -0.010

US markets closed mostly higher yesterday and Asia bourses were mixed for the day.  Nikkei -0.14%, SSE +0.19% and HSI -0.08%.  STI  rose 0.28% in higher volume and value with 15 of the 30 index stocks posted gain.

US ADP job number came in better than expected giving optimism of tonight non-farm payroll data will be good.  For Asia, while investors were waiting for the US non-farm payroll data tonight, China reported its services sector manufacturing data coming in 53.1 up from 50.8 in May.  Apart from the US jobs data, ECB meeting is also on investors mind

STI moved up another 0.28% fully recovered from the loss incurred on Monday and Tuesday but all came with thin volume.  Apart from the blue chips prices being pump up, broader market was relatively flat as investors taking cautious for tonight US jobs report.  Beyond the possibility of post-US jobs data movement, selectively, stocks were observed to be consolidating prior to the earning result.  Economic data might see market moving up or down within the next 1 or 2 days, focus should be on the coming earning season starting next week.

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