Friday, October 17, 2014

Market Summary -- 17th Oct 14

FTSE STI closed 3,167.73, up 13.52 points or +0.43% with a total volume of 1.20b and a total value of S$1.13b.  Total number of advance vs decline was 289 vs 161.  Of the 30 component index stocks, 19 closed positive, 5 unchanged and 6 in the red.  The top 5 gainer component stocks were :-

1. Jardine C&C  +1.130
2. JMH 400USD  +0.500
3. JSH 500USD  +0.500
4. DBS  +0.150
5. UOB  +0.120

The top 5 loser component stocks were :-

1. Kep Corp  -0.080
2. Olam  -0.060
3. Semb Corp  -0.040
4. SingTel  -0.020
5. Capitaland  -0.020

US markets closed mixed yesterday after series of events.  Asian bourses were also mixed with Nikkei -1.40%, SSE -0.64% and HSI +0.53%.  STI managed to rebound 0.43% in thin volume and higher value with 19 of the 30 index stocks posted gain.

US markets were initially down more than 1% but after positive data from weekly jobless claims and industrial production together with one of Fed member commented that US Fed should delay tapering fueled the recovery to close mixed.  Asian bourses were mixed as investors were pretty much confused now as to whether has the correction hit the bottom or still have some more to go.  US markets did an intra-day rebound 2 days ago and investors were wondering was that the bottom.  Most should be staying sideline to watch.

Singapore reported its September non-oil export data this morning coming in at +0.9% lower than the expected +2.6%.  STI rebound was weak as investors were confused whether has market completed the correction.  STI so far has dropped almost 7% from its recent peak.  Both the sellers and buyers are staying sideline to watch to see which side (bull or bear) give way now.  No point trying to time the bottom, look at the individual valuation of the stocks, a stock could have hit the bottom and starting to rebound but STI might have some more room down.

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