Friday, July 4, 2014

Market Summary -- 4th Jul 14

FTSE STI closed 3,272.25, down 0.90 points or -0.03% with a total volume of 2.07b and a total value of S$863M.  Total number of advance vs decline was 237 vs 197.  Of the 30 component index stocks, 8 closed positive, 7 unchanged and 15 in the red.  The top 5 gainer component stocks were :-

1. UOB  +0.300
2. DBS  +0.060
3. GLP  +0.030
4. ComfortDelGro  +0.020
5. Kep Corp  +0.020
5. SembCorp  +0.020

The top 5 loser component stocks were :-

1. JMH 400USD  -0.560
2. JSH 500USD  -0.460
3. Jardine C&C  -0.170
4. CityDev  -0.070
5. SPH  -0.020
5. SIA  -0.020
5. SGX  -0.020
5. SembMar  -0.020
5. Capitaland  -0.020

US markets closed at record high for DJ and S&P500 yesterday after the jobs data.  Asian bourses were mixed for the day with Nikkei +0.58%, SSE -0.19% and HSI +0.06%.  STI opened positive but closed flat in thin volume and value with 8 of the 30 index stocks posted gain.

US created 288,000 jobs last month beating expectation and jobless rate fell to 6.1% from 6.3%.  The positive data sent US markets higher with DJ closing above 17,000 and S&P500 both creating record high.  Asian bourses however were on profit taking day as investors took profit for the weekend resulting in mixed closing. 

STI opened positive taking cue from US markets overnight performance but can only managed to close flat as profit taking kicked in.  Again the punters penny stocks dominated the day activity.  For the big and mid caps it were all about consolidating ahead of the earning season.  With most of the important economic data out of the way, next week should be seeing selective stocks in particular those with great fundamental attracting more interest preparing for their respective earnings.

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