Tuesday, November 11, 2014

Market Summary -- 11st Nov 14

FTSE STI closed 3,292.15, down 8.85 points or -0.27% with a total volume of 1.15b and a total value of S$989M.  Total number of advance vs decline was 150 vs 242.  Of the 30 component index stocks, 12 closed positive, 2 unchanged and 16 in the red.  The top 5 gainer component stocks were :-

1. JMH 400USD  +0.850
2. Jardine C&C  +0.240
3. Olam  +0.110
4. SembCorp  +0.020
5. SingTel  +0.020

The top 5 loser component stocks were :-

1. UOB  -0.360
2. DBS  -0.220
3. OCBC  -0.100
4. StarHub  -0.090
5. CityDev  -0.090

US markets closed positive yesterday but Asian bourses were mixed for the day.  Nikkei +2.05%, SSE -0.12% and HSI +0.27%.  STI opened positive but closed -0.27% in average volume but thinner value than yesterday.  12 of the 30 index stocks posted gain.

With positive corporate earning, US markets continued the advance with DJ and S&P500 setting another record closing.  Asian bourses were mixed due to profit taking.  With corporate earning coming to a close and not much of economic data, global markets should be going into consolidation soon. 

STI pull back after past days of advance, closing below the 3,300 level, a temporary resistance for the moment.  What STI needs now is consolidation, further weakness for the next couple of days will be something expected for the time being.

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