Tuesday, May 19, 2015

Market Summary -- 19th May 15

FTSE STI closed 3,454.04, down 5.53 points or -0.16% with a total volume of 1.79b and a total value of S$973M.  Total number of advance vs decline was 253 vs 203.  Of the 30 component index stocks, 9 closed positive, 4 unchanged and 17 in the red.  The top 5 gainer component stocks were :-

1. Capitaland  +0.070
2. CityDev  +0.050
3. UOB  +0.050
4. ST Engg  +0.040
5. GLP  +0.030

The top 5 loser component stocks were :-

1. JMH USD  -0.650
2. JSH USD  -0.200
3. SIA  -0.140
4. Jardine C&C  -0.130
5. HongkongLand USD  -0.120

US markets closed positive yesterday and Asian bourses were mostly positive for the day with Nikkei +0.68%, SSE +3.15% and HSI +0.37%.  STI opened positive but failed to hold on to the gain and close -0.16% in slightly higher daily volume but thin value with 9 of the 30 index stocks posted gain.

Both DJ and S&P500 closed at new record high despite the negative events surrounding of bond selling off and Greece's uncertainty.  Asian markets taking the lead mostly positive for the day with SSE rallied more than 3%.  The as usual, hot money flowing into North Asia.  Events to look out for this week will be US Fed FOMC minutes for last month meeting and China economic data.

STI failed to keep pace with regional markets weighing down the Jardine group of stocks, not really a true reflection of the market.  The broader market was focused on the penny stocks where punters trying to punt for quick profit.  There was a sudden strengthen of USD against SGD tonight and that could probably caused the weakness in STI and another possibility is the rotation of money into North Asia markets.

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