Tuesday, July 8, 2014

Market Summary -- 8th Jul 14

FTSE STI closed 3,283.34, down 8.23 points or -0.25% with a total volume of 1.52b and a total value of S$928M.  Total number of advance vs decline was 185 vs 223.  Of the 30 component index stocks, 6 closed positive, 8 unchanged and 16 in the red.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.930
2. HongkongLand USD  +0.050
3. JMH 400USD  +0.040
4. SIA Engg  +0.010
5. Wilmar  +0.010

The top 5 loser component stocks were :-

1. JSH 500USD  -0.210
2. UOB  -0.100
3. DBS  -0.090
4. CityDev  -0.070
5. KepCorp  -0.050

US markets pulled back from record high yesterday with a drop of at least 0.3%.  Asian bourses continued to be mixed for the day.  Nikkei -0.42%, SSE +0.20% and HSI 0%.  STI after yesterday positive closing pull back with a closing of -0.25% in another of those thin volume and value day.  Only 6 of the 30 index stocks managed to register positive closing.

With no news or events happening yesterday, US markets took a break from the record high.  Asian bourses with no firm lead continue to perform mixed ahead of corporate earning.  There will not be any important economic data or events the next few days and as such, global markets will be mixed prior to the start of the earning season.

STI after yesterday gain was subjected to profit taking especially for the blue chips.  Broader market still moving in range bound mode with the punters rotating among the pennies to punt for quick profit.  While World Cup will be ending this weekend, Singapore will be starting its earning season next week and trading activity should be picking up then.   Selective stocks have been detected on accumulation phase probably in play for the coming earning season. 

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