Wednesday, August 13, 2014

Market Summary -- 13th Aug 14

FTSE STI closed 3,301.41, down 1.98 points or -0.06% with a total volume of 1.66b and a total value of S$859M.  Total number of advance vs decline was 227 vs 192.  Of the 30 component index stocks, 16 closed positive, 1 unchanged and 13 in the red.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.200
2. UOB  +0.140
3. CityDev  +0.120
4. JSH 500USD  +0.100
5. OCBC  +0.050
5. SGX  +0.050

The top 5 loser component stocks were :-

1. DBS  -0.260
2. JMH 400USD  -0.190
3. ComfortDelGro  -0.040
4. StarHub  -0.030
5. SIA  -0.030
5. SembMar  -0.030

US markets closed slightly down yesterday and Asian bourses were mixed with mostly positive after choppy sessions.  Nikkei +0.35%, SSE +0.06% and HSI +0.81%.  STI traded mostly in the red closing flat with thin volume and value.  16 of the 30 index stocks posted gain.

Investors were digesting the recent rebound and chose to take some profit causing US markets ended slight in the red.  Asian bourses were mixed but managed to close mostly positive after series of economic data.  Japan released its 2Q GDP coming in at -6.8% annualized vs expectation of -7.1%.  The contraction was expected due to the impact of the sales tax hike.  China released its retail sales data for July coming in at +12.2% slight below expectation of +12.4% while industrial output rose 9% in line with expectation.  While those data were relatively weak but investors shrugged off and allowing most of Asian markets to close positive.

STI were practically flat for the day as investors taking profit but there was an underlying momentum for the small and mid caps stocks to move up.  That could be due to short-term punters or investors realizing the fundamental and go on bargain hunting.  While the blue chips might be subjected to further profit taking, those small and mid caps stocks with good fundamental after last week sell down will worth looking at.

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