Friday, September 19, 2014

Market Summary -- 19th Sep 14

FTSE STI closed 3,305.05, up 7.76 points or +0.24% with a total volume of 1.75b and a total value of S$1.20b.  Total number of advance vs decline was 266 vs 193.  Of the 30 component index stocks, 16 closed positive, 6 unchanged and 8 in the red.  The top 5 gainer component stocks were :-

1. JMH 400USD  +0.200
2. Jardine C&C  +0.140
3. UOB  +0.090
4. OCBC  +0.080
5. HongkongLand USD  +0.070

The top 5 loser component stocks were :-

1. JSH 500 USD  -0.130
2. DBS  -0.080
3. A-Reit  -0.030
4. Wilmar  -0.020
5. ThaiBev  -0.010
5. SIA  -0.010
5. CapitaMall  -0.010

US markets closed with a gain of at least 0.5% yesterday and Asian bourses were positive for the day.  Nikkei +1.58%, SSE +0.57% and HSI +0.57%.  STI rose 0.24% in highly volume and value with 16 of the 30 index stocks posted gain.

US markets closed at another record high for DJ and S&P500 in a post-Fed rally as investors cheered of probably another 6 months of cheap money.  Asian bourses taking the lead were positive for the day with Nikkei hitting a 7-year high.  Outcome of the Scottish referendum vote for independence came in the afternoon indicating that majority voted for a "No" and that further boost another relief rally in Asian markets in the afternoon.

STI headed back to above 3,300 level further assured of the 3,280 support level is able to sustain.  Short-term wise, STI might head into consolidation against the absence of major events.  Something worth monitoring is the S-Reits, they were performing mixed at the moment probably still digesting of possible funds unloading.  Should there is no breakdown by end of the month, it should going for rebound next month.

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