Thursday, August 14, 2014

Market Summary -- 14th Aug 14

FTSE STI closed 3,294.83, down 6.58 points or -0.20% with a total volume of 1.33b and a total value of S$970M.  Total number of advance vs decline was 219 vs 216.  Of the 30 component index stocks, 12 closed positive, 6 unchanged and 12 in the red.  The top 5 gainer component stocks were :-

1. JSH 500USD  +0.160
2. UOB  +0.110
3. KepCorp  +0.050
4. HongkongLand USD  +0.030
5. SembCorp  +0.030

The top 5 loser component stocks were :-

1. CityDev  -0.270
2. Jardine C&C  -0.220
3. SIA  -0.070
4. DBS  -0.060
5. Capitaland  -0.060

US markets rose for 3rd day in a row gaining at least 0.5%.  Asian bourses however were mixed with Nikkei +0.66%, SSE -0.74% and HSI -0.36%.  STI eased 0.20% in thin volume and value with 12 of the 30 index stocks posted gain.

Without any major events, US stocks continued the rebound.  Asian bourses were mixed for the day as though geopolitical issues might have eased but the recent soft economic data gave investors not much of positive catalysts to create another rally.  In the afternoon, Euro zone released its 2Q GDP with Germany surprisingly shrank 0.2% and France was flat.  Those figure caused Europe and Asian markets dipped into the red in the afternoon.

STI slipped 0.20% in thin volume and value as lack of further positive catalysts caused most of the the blue chips to face with profit taking while the broader market going no where.  The question now is whether STI could hold on to the consolidation range of between 3,280 to 3,340

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