Friday, September 12, 2014

Market Summary -- 12th Sep 14

FTSE STI closed 3,345.55, down 1.73 points or -0.05% with a total volume of 1.10b and a total value of S$788M.  Total number of advance vs decline was 196 vs 233.  Of the 30 component index stocks, 14 closed positive, 6 unchanged and 10 in the red.  The top 5 gainer component stocks were :-

1. DBS  +0.140
2. OCBC  +0.050
3. SGX  +0.040
4. UOB  +0.040
5. GLP  +0.020
5. Noble  +0.020
5. SIA  +0.020
5. SPH  +0.020
5. ST Engg  +0.020

The top 5 loser component stocks were :-

1. JMH 400USD  -0.570
2. JSH 500USD  -0.270
3. Kep Corp  -0.080
4. HongkongLand USD  -0.030
5. ComfortDelGro  -0.030

US markets closed mixed yesterday and Asian bourses were also mixed with mostly positive.  Nikkei +0.25%, SSE +0.88% and HSI -0.27%.  STI flat at -0.05% in thin volume and value with 14 of the 30 index stocks posted gain. 

US Fed FOMC meeting next week, Scotland voting for independence and the forever Ukraine-Russia conflict still weighing investors keeping them cautious resulting in mixed day for US markets.  However, there is momentum that US markets might move up ahead of next week US Fed FOMC meeting.  Investors are expecting US Fed to further taper the QE to US$15b per month but the one that investors will be looking out for will be Fed's statement on interest rate hike. 

STI was flat in thin volume and value.  Traders closing positions over the weekend.  There is an underlying that market will move up higher next week.  Be careful to select the correct stocks, some of the stocks, funds are selling.

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