Monday, August 25, 2014

Market Summary -- 25th Aug 14

FTSE STI closed 3,330.28, up 4.78 points or +0.14% with a total volume of 1.34b and a total value of S$808M.  Total number of advance vs decline was 198 vs 221.  Of the 30 component index stocks, 14 closed positive, 6 unchanged and 10 in the red.  The top 5 gainer component stocks were :-

1. JMH 400USD  +0.440
2. UOB  +0.230
3. CityDev  +0.080
4. SGX  +0.060
5. ComfortDelGro  +0.040
5. HongkongLand USD  +0.040
5. Semb Corp  +0.040

The top 5 loser component stocks were :-

1. OCBC  -0.420
2. SIA  -0.090
3. SPH  -0.020
4. Noble  -0.015
5. Wilmar  -0.010
5. ThaiBev  -0.010
5. A-Reit  -0.010

US markets closed mixed last Friday and Asian bourses were also mixed for the day.  Nikkei +0.48%, SSE -0.51% and HSI +0.22%.  STI advanced 0.14% in thin volume and value with 14 of the 30 index stocks posted gain.

It as another no-event for the Jackson Hole meeting as US Fed and ECB maintained the same stance with US Fed looking at the correct timing to tighten monetary policy and ECB is probably going to plan another monetary easing to boost the stalling Eurozone economy.  With any further cue as to when US Fed will raise interest rate, global markets were mixed.  There was moment of nervous last Friday when Russian's aids convey entered Ukraine with Ukraine claimed as invasion but over the weekend thing get resolved when Russian's aids convey u-turn back.

For STI, the lack of further negative news lead to some bargain hunting in the blue chips resulting in STI advancing 0.14%, capped by OCBC which XA for the day dropping 4%.  However, most of the activity still on the penny, small and mid cap stocks in which punters were trying to punt for some quick gain.  Those stocks should be seeing some rotation play for the time being; a trader market as a whole.

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