Tuesday, August 12, 2014

Market Summary -- 12th Aug 14

FTSE STI closed 3,303.39, down 3.06 points or -0.09% with a total volume of 1.58b and a total value of S$802M.  Total number of advance vs decline was 239 vs 213.  Of the 30 component index stocks, 11 closed positive, 6 unchanged and 13 in the red.  The top 5 gainer component stocks were :-

1. JMH 400USD  +0.210
2. UOB  +0.120
3. DBS  +0.080
4. SIA  +0.060
5. ComfortDelGro  +0.040

The top 5 loser component stocks were :-

1. JSH 500USD  -0.100
2. OCBC  -0.090
3. HongkongLand USD  -0.060
4. SembCorp  -0.040
5. Capitaland  -0.040

US markets rose for 2nd consecutive day after last week sell down.  Asian bourses were however mixed with Nikkei +0.20%, SSE -0.14% and HSI +0.18%.  STI swinging between gain and loss eventually closed flat in another of those thin volume and value session.  11 of the 30 index stocks managed to post gain.

Putting geopolitical issues aside, US markets were able to rose for 2nd consecutive day but for Asian markets it was a mixed day as investors chose to take some profit off.  Global markets are looking for rebound from last week of selling down due to geopolitical concerns but the upside might be capped as those issues are not totally gone or resolved.  For market to resume the bull, some consolidation must be formed first.

Singapore released its 2Q GDP this morning coming in at +2.4% within expectation.  Though the data was largely non-negative but market wise still very cautious.  With earning season coming to an end soon, investors especially those short-term would be looking for any opportunity (market up day) to take profit.  The blue chips might be going into consolidation phase, the small and mid-cap might getting the focus as investors and punters will be for some rotational punting with those stocks. The S-Reits might be going for another upwards movement soon.

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