Wednesday, May 20, 2015

Market Summary -- 20th May 15

FTSE STI closed 3,439.68, down 14.36 points or -0.42% with a total volume of 1.57b and a total value of S$1.06b.  Total number of advance vs decline was 175 vs 233.  Of the 30 component index stocks, 11 closed positive, 4 unchanged and 15 in the red.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.270
2. HongkongLand USD  +0.120
3. SIA  +0.050
4. Capitaland  +0.030
5. SGX  +0.030

The top 5 loser component stocks were :-

1. JMH USD  -0.580
2. JSH USD  -0.460
3. DBS  -0.160
4. Kep Corp  -0.130
5. StarHub  -0.090

US markets closed mixed yesterday and Asian bourses were again mixed for the day with Nikkei +0.85%, SSE +0.70% and HSI -0.39%.  STI fell for 3 straight days closing -0.42% in typical thin daily volume and value with 11 of the 30 index stocks registered gain.

US markets were cautious ahead of tonight US Fed FOMC minutes for last month meeting while Asian markets were mixed despite positive Japan economic data.  Japan released its 1Q GDP came in better than expected making a +2.4% annualized gain vs expectation of +1.5% and Q1 GDP of +0.60% vs +0.40% expected leading Nikkei to close positive.  China meanwhile continued yesterday rally with another +0.70% closing as investors were positive after Chinese Government released its 10-year reform blueprint for its economy yesterday.  Rest of the region mostly were in the red due to profit taking and cautiousness.

STI fell again as those positive news were more or less not directly impact Singapore.  The continuous strengthening of USD against SGD has certain impact on the market selling too.  STI should be heading down to test its recent support in the next few sessions.  A successful rebound from there should start to attract bargain hunting coming back.

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