Tuesday, September 2, 2014

Market Summary -- 2nd Sep 14

FTSE STI closed 3,328.30, up 14.17 points or +0.43% with a total volume of 1.62b and a total value of S$892M.  Total number of advance vs decline was 222 vs 220.  Of the 30 component index stocks, 19 closed positive, 4 unchanged and 7 in the red.  The top 5 gainer component stocks were :-

1. JMH 400USD  +0.520
2. JSH 500USD  +0.420
3. UOB  +0.080
4. CityDev  +0.070
5. SingTel  +0.070

The top 5 loser component stocks were :-

1. OCBC  -0.090
2. Jardine C&C  -0.080
3. SGX  -0.020
4. DBS  -0.020
5. GLP  -0.010
5. CapitaMall  -0.010

US markets were closed for holiday yesterday but Asian bourses were mostly positive for the day.  Nikkei +1.24%, SSE +1.37% and HSI -0.01%.  STI rebounded from yesterday sell down to close +0.43% in thin volume and value.  19 of the 30 index stocks posted gain.

US markets were closed yesterday and Europe markets were mostly in the red due to the Ukraine tension and weak PMI data.  Asian bourses managed to close positive today anticipating probably a positive US markets tonight.  Investors still focus on Ukraine issue and the main event for this week should be the ECB meeting in which most expecting some form of monetary easing to be unveiled.  The persistence low inflation and weakening of economic data all giving signals that ECB will act as it has already mentioned in last week Jackson Hole meeting.

STI rebounded from yesterday sell off mainly due to the blue chips rebounding.  Broader market still seeing uncertainty.  Selling pressure was seen due to those who have bought last week before the drop trying to get out.  On the other hand bargain hunters are just waiting for opportunity.  While the selling will have to be fully absorbed before those penny, small and mid cap stocks can rebound, the better bargain no doubt will be those stocks.    

No comments:

Post a Comment