Tuesday, October 28, 2014

Market Summary -- 28th Oct 14

FTSE STI closed 3,211.65, down 14.46 points or -0.45% with a total volume of 1.19b and a total value of S$1.00b.  Total number of advance vs decline was 147 vs 236.  Of the 30 component index stocks, 6 closed positive, 5 unchanged and 19 in the red.  The top 5 gainer component stocks were :-

1. ComfortDelGro  +0.080
2. Wilmar  +0.040
3. StarHub  +0.030
4. ST Engg  +0.030
5. GoldenAgri  +0.010
5. SembCorp  +0.010

The top 5 loser component stocks were :-

1. JSH 500USD  -0.310
2. Jardine C&C  -0.280
3. CityDev  -0.250
4. UOB  -0.160
5. Kep Corp  -0.130

US markets closed mixed yesterday and Asian bourses were also mixed for the day.  Nikkei -0.38%, SSE +2.07% and HSI +1.63%.  STI closed -0.45% in thin volume and value with only 6 of the 30 index stocks posted gain.

US markets started in the red but managed to close mixed with only S&P500 dipped into the red.  Asian bourses were mixed given that mixed performance of US markets.  SSE snapped a 5-day losing streak to close more than 2% and HSI tracking it also managed to close +1.63%.  The rest of the regional bourses were mostly in the red as investors getting cautious ahead of the 2-day US Fed FOMC meeting. Focus will be on any clues on when interest rate will be hike.

STI fell 0.45% but with thin volume and value as investors getting cautious of the US Fed FOMC meeting.  Profit taking was seen across the board and bargain hunting was at conservative level in which buyers were willing to wait at lower price level.  Mid and long term investors should ignore the short-term volatility (noises).  S-Reits who went XD so far didn't drop much and that should be something that worth monitoring as it is an indicator of whether funds are in or out of the Singapore market.  Cautious on penny stocks, distribution at work !

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