Wednesday, August 27, 2014

Market Summary -- 27th Aug 14

FTSE STI closed 3,341.46, up 18.44 points or +0.55% with a total volume of 1.65b and a total value of S$955M.  Total number of advance vs decline was 228 vs 192.  Of the 30 component index stocks, 22 closed positive, 3 unchanged and 5 in the red.  The top 5 gainer component stocks were :-

1. JMH 400USD  +0.580
2. JSH 500USD  +0.350
3. Jardine C&C  +0.240
4. UOB  +0.160
5. DBS  +0.130

The 5 loser component stocks were :-

1. OCBC  -0.020
2. HongkongLand USD  -0.020
3. ComfortDelGro  -0.010
4. Noble  -0.005
5. HPH Trust USD  -0.005

US markets closed positive again yesterday and Asian bourses were mostly positive.  Nikkei +0.09%, SSE +0.11% and HSI -0.62%.  STI rose 0.55% in thin volume and value with 22 of the 30 index stocks posted gain.

Positive data from Durable Goods Order and Consumer Confidence sent US markets to record another positive closing and S&P500 finally managed to close above 2,000 level, another record high for the year.  Asian bourses taking the cue were mostly higher with exception of HSI falling into the red.  There is no doubts that US markets are going for record high for the sake of doing it and any positive economic data will be a good excuse to achieve it.

STI rose 0.55% mainly due to the 3 Jardine group of stocks and other blue chips as board market was on different story.  Board market appeared to be lacking in strength to breakout from their respective resistance level and that is something to worry about as failing to do so will lead to pull back soon.

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