Wednesday, May 27, 2015

Market Summary -- 27th May 15

FTSE STI closed 3,424.94, down 35.04 points or -1.01% with a total volume of 1.64b and a total value of S$1.30b.  Total number of advance vs decline was 171 vs 285.  Of the 30 component index stocks, 4 closed positive, 2 unchanged and 24 in the red.  The 4 gainer component stocks were :-

1. JMH USD  +0.990
2. JSH USD  +0.100
3. Kep Corp  +0.030
4. SGX  +0.020

The top 5 loser component stocks were :-

1. Jardine C&C  -0.560
2. UOB  -0.390
3. DBS  -0.320
4. HongkongLand USD  -0.260
5. SIA  -0.160

US markets fell at least 1% yesterday but Asian bourses were mixed for the day with Nikkei +0.17%, SSE +0.63% and HSI -0.60%.  STI fell 1.01% in slightly higher volume and value than yesterday with only 4 of the 30 index stocks managed to register gain.

The strengthening of USD due to positive economic data stroke fear in US markets triggering a drop of at least 1% for all the 3 indices.  Asian markets were mixed with both Nikkei and SSE continued to hit new multi-year high but rest of the regional bourses were hit with selling pressure.  With the lack of firm positive events or global economic data, stock markets will be getting volatile.  A little negative news or events can trigger some panic selling down but when those are digested and investors see nothing to fear about, a rebound will follow.

STI tracking US markets fell more than 1% all thanks to the blue chips as lack of market participation can easily move the index up or down.  Broader market though faced selling pressure for the day but the downside was pretty much contained.  Just look at the index will miss the bigger picture for Singapore market.

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