Monday, August 18, 2014

Market Summary -- 18th Aug 14

FTSE STI closed 3,312.78, down 1.99 points or -0.06% with a total volume of 1.30b and a total value of S$858M.  Total number of advance vs decline was 204 vs 239.  Of the 30 component index stocks, 10 closed positive, 5 unchanged and 15 in the red.  The top 5 gainer component stocks were :-

1. JMH 400USD  +1.040
2. JSH 500USD  +0.660
3. Jardine C&C  +0.060
4. DBS  +0.030
5. SGX  +0.030

The top 5 loser component stocks were :-

1. CityDev  -0.130
2. UOB  -0.070
3. ST Engg  -0.070
4. SIA  -0.070
5. SembCorp  -0.070

US markets gave up earlier gain and closed mixed last Friday.  Asian bourses were mixed with most of them closing flat.  Nikkei +0.03%, SSE +0.57% and HSI 0%.  STI mostly traded in the red closing -0.06% in thin volume and value and 10 of the 30 index stocks posted gain.

US markets were initially in positive but after news of Ukraine and Russia army engaged cross fire at the border killing several Russian soldiers, markets sank into the red, recovering near closing to close flat.  The Ukraine geopolitical incident caused Asian markets to start off the day in the red but most managed to recover and closed flat.  Couple of events taking place this week in China HSBC flash PMI and end of the week Jackson Holes meeting for global central bankers will be attracting investors attention apart from the usual geopolitical issues.   The most important question investors looking for in the coming Jackson Holes meeting shall be when will US Fed raise interest rate.

Singapore released its July non-oil export data this morning coming in at -3.3% better than the -3.9% expectation.  Though, better than estimate but the drop in reading compared a year ago put in some negative sentiment to the already listless STI.  Not much of bargain hunting detected despite regional bourses showed recovery in the late trading session.  While most are staying sideline, investors should not ignore the very fundamental which eventually could miss the chance to accumulate on cheap.

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