Monday, July 7, 2014

Market Summary -- 7th Jul 14

FTSE STI closed 3,291.57, up 19.32 points or +0.59% with a total volume of 1.41b and a total value of S$727M.  Total number of advance vs decline was 207 vs 218.  Of the 30 component index stocks, 20 closed positive, 3 unchanged and 7 in the red.  The top 5 gainer component stocks were :-

1. JMH 400USD  +1.200
2. Jardine C&C  +1.040
3. JSH 500USD  +0.910
4. UOB  +0.220
5. DBS  +0.080

The top 5 loser component stocks were :-

1. HongkongLand USD  -0.060
2. SIA Engg  -0.010
3. Olam  -0.010
4. OCBC  -0.010
5. ComfortDelGro  -0.010

US markets were closed last Friday for holiday and Asian bourses without lead were mixed for the day.  Nikkei -0.37%, SSE +0.03% and HSI -0.02%.  STI however managed to outperform regional bourses with a +0.59% closing but with thin volume and value.  20 of the 30 index stocks posted gain.

With bulk of important economic data and events over last week, global markets were again muted ahead of the earning season which will be starting in a week time.  Global markets will be in consolidation mode before earning season kicks off.

STI managed to perform better than regional bourses (mainly due to the Jardine group shares) but the thin volume and value will be a question on whether the moving up for the past 2 days can it be sustainable.  Most of the stocks were seen range bound despite those gain today as they were being consolidating before earning season starts next week.  Again the punters' stocks were those most activity for the day and they just rotate from one to another.  Focus on stocks with good fundamental and watch out for their earning result that will be coming out.

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