Tuesday, September 30, 2014

Market Summary -- 30th Sep 14

FTSE STI closed 3,276.74, down 12.98 points or -0.39% with a total volume of 1.69b and a total value of S$1.70b.  Total number of advance vs decline was 161 vs 272.  Of the 30 component index stocks, 7 closed positive, 3 unchanged and 20 in the red.  The top 5 gainer component stocks were :-

1. JMH 400USD  +0.460
2. ThaiBev  +0.045
3. HongkongLand USD  +0.020
4. JSH 500USD  +0.020
5. HPH Trust USD  +0.015

The top 5 loser component stocks were :-

1. Jardine C&C  -0.460
2. UOB  -0.160
3. SIA  -0.110
4. DBS  -0.100
5. ComfortDelGro  -0.100

US markets fell average 0.2% yesterday and Asian bourses ended the last day of 3Q2014 in mixed with mostly down.  Nikkei -0.84%, SSE +0.26% and HSI -1.28%.  STI fell 0.39% in moderate volume but higher value with only 7 of the 30 index stocks posted gain.

The Hong Kong protest fallout effect spread to US markets causing US markets to close in the red.  For Asia, the concern of Hong Kong continued to weigh down investors.  Japan released couple of economic data this morning with unemployment rate for August came in 3.1% but household spending and industrial output all fall below expectation and that weighed on investors concerning about Japanese economy.  China will be shut down for national holiday for the rest of the week but will be releasing its official PMI data for September.  HSI continued the slide as the pro-democracy protest weighed in ahead of national holiday.  In addition, being the last day of 3Q2014, window dressing by fund managers mostly dumping stocks to lock in profit further pressure the markets. 

STI started the day in red and stay there throughout, breaking the 3,280 level as expected mainly due to funds doing end of quarter window dressing.  This should be the last dump for the funds.  Thereafter what matter most will be fundamental of the stocks.  It is good that funds selling the stocks not due to fundamental reason (if they don't do so, they could see their gain gone in the next quarter and at the end of the year nothing to showcase for their portfolio performance) that bargain hunting is possible.  Stay focus on the fundamental and the earning season next month.

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