Tuesday, October 7, 2014

Market Summary -- 7th Oct 14

FTSE STI closed 3,243.99, down 9.25 points or -0.28% with a total volume of 1.37b and a total value of S$1.08b.  Total number of advance vs decline was 156 vs 251.  Of the 30 component index stocks, 8 closed positive, 3 unchanged and 19 in the red.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.930
2. HongkongLand USD  +0.080
3. GLP  +0.050
4. Olam  +0.040
5. CityDev  +0.020

The top 5 loser component stocks were :-

1. JSH 500USD  -0.490
2. SIA  -0.140
3. UOB  -0.120
4. KepCorp  -0.100
5. SGX  -0.090

US markets gave up earlier gain and closed at least -0.1% yesterday.  Asian bourses were mixed with mostly in the red.  Nikkei -0.67%, HSI +0.46% and SSE still closed for national holiday.  STI reopened after yesterday holiday started off with a gain but failed to maintain it and closed -0.28% in moderate volume and value.  Only 8 of the 30 index stocks posted gain.

US markets were subjected to profit taking and cautious ahead of earning season and the release of US Fed FOMC minutes for last month this week after the post rally of better than expected non-farm payroll last Friday.  Most of Asian bourses taking the cue from US markets were in the red except HSI continued to rebound from last week selling down due to the pro-democracy protest.  Both Hong Kong leader and protest leaders agreed to talks and that sort of ease the tensions and worries on the protest has on the economy.  Apart from the as usual interest rate hike sensitive topic, investors will be looking at US corporate earning and US Fed FOMC minutes for September.

STI missing out on yesterday global stock markets rebound on better than expected US non-farm payroll started the day with a gain but failed to keep up to it as profit taking straight away kicked in on top of the weak showing from US markets yesterday night.  While the general sentiment might biased towards the bearish side, there is some momentum in rebound from support level for most of the stocks in particular those having their earnings to be released within the next 2 weeks.

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