Friday, October 31, 2014

Market Summary -- 31st Oct 14

FTSE STI closed 3,274.25, up 39.94 points or +1.23% with a total volume of 1.73b and a total value of S$1.49b.  Total number of advance vs decline was 352 vs 100.  Of the 30 component index stocks, 26 closed positive, 1 unchanged and 3 in the red.  The top 5 gainer component stocks were :-

1. UOB  +0.540
2. Jardine C&C  +0.270
3. OCBC  +0.200
4. SIA  +0.170
5. DBS  +0.150

The 3 loser component stocks were :-

1. JMH 400USD  -0.400
2. Ascendas Reit  -0.020
3. StarHub  -0.010

US markets ended positive yesterday and Asian bourses were on a rally for the day.  Nikkei +4.83%, SSE +1.25% and HSI +1.25%.  STI rose 1.23% in higher volume and value than past days with 26 of the 30 index stocks posted gain.

US 3Q GDP came in +3.5% better than the +3% expected and that triggered US markets to move up higher yesterday.  It was an eventful day for Asian bourses with BOJ did a surprise by increasing the pace at which it expands base money  after inflation data came in at 3%.  That allowed Nikkei to close almost +5% hitting 7-year peak.  Rest of the regional was tracking the sentiment from both Nikkei and US markets overnight and with fund managers doing month end window dressing allowing them to close positive for the day.

STI apart from tracking regional bourses was on month end window dressing whereby broad market moved up.  An event to look out for next week will be Japan Government decision to legalize casino and if that turns out to be a go-ahead, casino related stocks like Genting SP, OUE (to a lesser extend), etc could be see a rush of speculating play.  So far STI has been able to build a support around the 3,200 level and if that could continue to hold for another month, the odd will be on STI able to close above 3,300 for end of the year.

No comments:

Post a Comment