Monday, November 3, 2014

Market Summary -- 3rd Nov 14

FTSE STI closed 3,290.84, up 16.59 points or +0.51% with a total volume of 2.15b and a total value of S$1.06b.  Total number of advance vs decline was 287 vs 170.  Of the 30 component index stocks, 18 closed positive, 2 unchanged and 10 in the red.  The top 5 gainer component stocks were :-

1. DBS  +0.340
2. UOB  +0.290
3. SIA  +0.170
4. Kep Corp  +0.100
5. SembMar  +0.100

The top 5 loser component stocks were :-

1. JMH 400USD  -0.550
2. Jardine C&C  -0.450
3. JSH 500USD  -0.420
4. ComfortDelGro  -0.050
5. ThaiBev  -0.010
5. SPH  -0.010
5. Olam  -0.010
5. HongkongLand USD  -0.010
5. GoldenAgri  -0.010
5. GLP  -0.010

US markets rallied at least 1% last Friday and Asian bourses were mixed for the day.  Nikkei was closed for holiday, SSE +0.45% and HSI -0.34%.  STI rose 0.51% in higher volume than past days with 18 of the 30 index stocks registered gain. 

The surprise BOJ expand of stimulus, positive corporate earning and month end window dressing helped rallied US markets last Friday with both DJ and S&P500 hit record closing.  Asian bourses were mixed for the day after China released its economic data for October over the weekend.  Official PMI came in at 5-month low of 50.8 and the Service PMI data also dipped from previous data to 53.8.  The slow down in China economy has prompted investors to speculate that Chinese Government might be unveiling stimulus.  Regional bourses were mixed as investors taking profit from last week run up and also staying cautious due to the weaken Chinese data.

STI continued the upwards movement despite some profit taking for post window dressing.  Punting of penny stocks was back and another worth mentioning was the stock prices of S-Reits, some of them managed to regain or even head higher than the ex-CD prices and that was an encouraging sign that funds are pouring money into those.  STI should be facing some short-term resistance around the 3,300 to 3,340 level with immediate support at the 3,220 level.  While blue chips could be headed for a temporary pull back after hitting resistance level, the market attention could turn to the laggard to move up next.

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