Wednesday, November 5, 2014

Market Summary -- 5th Nov 14

FTSE STI closed 3,287.54, up 5.97 points or +0.18% with a total volume of 857M and a total value of S$761M.  Total number of advance vs decline was 148 vs 221.  Of the 30 component index stocks, 12 closed positive, 7 unchanged and 11 in the red.  The top 5 gainer component stocks were :-

1. JMH 400USD  +0.280
2. DBS  +0.250
3. UOB  +0.220
4. Olam  +0.070
5. SIA  +0.070

The top 5 loser component stocks were :-

1. JSH 500USD  -0.450
2. SIA Engg  -0.320
3. Jardine C&C  -0.130
4. ST Engg  -0.120
5. CityDev  -0.120

US markets closed mixed yesterday and Asian bourses were also mixed for the day.  Nikkei +0.44%, SSE -0.42% and HSI -0.63%.  STI rose 0.18% in thin volume and value in a SGX breakdown day with 12 of the 30 index stocks posted gain.

Drop in crude oil price caused most of US markets to drop.  US factory orders also fell 0.6% in September while the trade gap expanded in September as export slow.  Investors also cautious ahead of US congressional elections which most expected the Republican to win.  Asian bourses were mixed for the day with Nikkei hitting another new 7-year high while most of the regional bourses were in the red due to profit taking.  In the afternoon news was that Republican indeed won the majority of the Senate seats and again dominated the House.  That probably will cheer US markets tonight.

STI was positive until SGX trading system broke down in the afternoon and remained halted for the rest of the afternoon, resumed trading from 5.15pm for another 30 minutes.  However, the last 30 minutes quiet as most probably already knocked off for the day.  Officially it said SGX has halt its trading system at 2.51pm but the system broke down as early as around 2.20pm.  Due to the breakdown, whatever has been done for the earlier part of the trading should not be a reflection of how STI fared for the day.  Perhaps it is time for MAS to fine SGX for the breakdown.

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