Thursday, August 28, 2014

Market Summary -- 28th Aug 14

FTSE STI closed 3,330.22, down 11.24 points or -0.34% with a total volume of 1.50b and a total value of S$1.01b.  Total number of advance vs decline was 178 vs 226.  Of the 30 component index stocks, 7 closed positive, 5 unchanged and 18 in the red.  The top 5 gainer component stocks were :-

1. JMH 400USD  +0.460
2. Jardine C&C  +0.290
3. SIA Engg  +0.040
4. ThaiBev  +0.015
5. Ascendas Reit  +0.010
5. SingTel  +0.010
5. SIA  +0.010

The top 5 loser component stocks were :-

1. JSH 500USD  -0.220
2. HongkongLand USD  -0.210
3. CityDev  -0.210
4. OCBC  -0.100
5. SGX  -0.040
5. Olam  -0.040
5. Kep Corp  -0.040

US markets closed flat and mixed yesterday.  Asian bourses were however all in the red with Nikkei -0.48%, SSE -0.62% and HSI -0.71%.  STI opened positive but failed to hold the gain and closed -0.34% in thin volume but higher value and only 7 of the 30 index stocks registered gain.

Investors were digesting the gain for US markets yesterday resulting in flat closing with S&P500 edged up slightly to another record closing for the year.  Asian bourses however were all on profit taking sending markets into the red.  Negative opening of European markets further sent weakness in Asian markets in the afternoon as investors awaiting for economic data from Europe and action from ECB.  There is also possibility that US markets might start to pull back.  Tomorrow will be last day of the month and possible month end window dressing by funds.  The month end windows could send markets either down (when funds locking in profit after recent rally) or continue the uptrend when funds further dressing up their portfolio.

STI started the day in positive region but lose the momentum in the afternoon session when regional bourses all sink into the red.  Profit taking, month end window dressing and punters closing intra-day positions sent STI to close -0.34%.  Tomorrow more window dressing will happen.  Selectively some of the blue chips can be popping up while others dipping.  The window dressing could go either direction.

No comments:

Post a Comment