Monday, September 29, 2014

Market Summary -- 29th Sep 14

FTSE STI closed 3,289.72, down 2.49 points or -0.08% with a total volume of 1.00b and a total value of S$682M.  Total number of advance vs decline was 186 vs 222.  Of the 30 component index stocks, 12 closed positive, 8 unchanged and 10 in the red.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.090
2. ComfortDelGro  +0.050
3. Olam  +0.040
4. SembMar  +0.030
5. GLP  +0.020
5. OCBC  +0.020
5. SGX  +0.020
5. ST Engg  +0.020

The top 5 loser component stocks were :-

1. JMH 400USD  -0.820
2. JSH 500USD  -0.640
3. HongkongLand USD  -0.070
4. UOB  -0.060
5. CityDev  -0.030

US markets closed at least +0.8% last Friday.  Asian bourses were however mixed with Nikkei +0.50%, SSE +0.49% and HSI -1.90%.  STI traded in negative region for most of the day closing -0.08% in very thin volume and value.  12 of the 30 index stocks registered positive closing.

US stocks rebounded but Asian bourses were caught in the fallout of the Hong Kong's demonstration.  Bourses managed to close positive taking the lead from last Friday US markets rebound but for the rest especially Hong Kong were affected by the effect of the demonstration.  Should the demonstration continued, this will hurt Hong Kong economy in the short-term.  This week is another heavy economic data week with China official PMI for September and the US non-farm payroll data for September.  The non-farm payroll will be closely watched as investors are using that as a gauge when US Fed will raise interest rate.

STI spent most of the time in the red but with very thin volume as most staying sideline.  Those involved probably those punters and short-term traders closing off positions.  Something to watch tomorrow will be end of quarter window dressing, Should there be no high volume selling down on the blue chips and S-Reits, funds selling should be dried out and bargain hunting opportunity is there ahead of the earning season. 

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