Monday, May 25, 2015

Market Summary -- 25th May 15

FTSE STI closed 3,460.85, up 10.67 points or +0.31% with a total volume of 1.79b and a total value of S$597M.  Total number of advance vs decline was 195 vs 248.  Of the 30 component index stocks, 17 closed positive, 3 unchanged and 10 in the red.  The top 5 gainer component stocks were :-

1. JMH USD  +0.520
2. JSH USD  +0.270
3. HongkongLand USD  +0.160
4. CityDev  +0.080
5. Jardine C&C  +0.050

The top 5 loser component stocks were :-

1. UOB  -0.060
2. ST Engg  -0.060
3. SingTel  -0.060
4. SIA  -0.040
5. Sembcorp  -0.030

US markets closed in the red with a drop of at least 0.2% and Asian bourses were mostly positive for the day with Nikkei +0.74%, SSE +3.35% and HSI was closed for holiday.  STI in line with regional bourses rose 0.31% but in thin volume and value with 17 of the 30 index stocks posted gain.

US Fed Chairman affirmed that do not rule out the possibility of interest rate hike later this year should economic data resume the strength.  That caused strengthening of USD and a drop in US markets last Friday.  For Asia, it was a different story as the bull continued to march on.  Japan's April exports rose 8% on-year, better than expected and SSE surged another 3% as both Nikkei and SSE hit new multi-year high.  It will be another of those data driven week ahead and not to mention the Greek's debt.

STI rose 0.31% but lack of volume as majority still sideline.  While the blue chips were responsible for the index with the Jardine group of stocks holding it up, broader market was however in a zombie mode due to the lack of market participation.  The good thing will be downside pretty much limited but the bad will be STI lacking behind in North Asia markets bull run.  For short-term and trading perspective, selective stocks still can provide the upside, for mid to long-term investment or trading, the next 1.5 months will be something to watch for to bargain hunt. 

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