Friday, June 12, 2015

Market Summary -- 12th Jun 15

FTSE STI closed 3,353.85, up 6.18 points or +0.18% with a total volume of 1.31b and a total value of S$948M.  Total number of advance vs decline was 187 vs 230.  Of the 30 component index stocks, 16 closed positive, 4 unchanged and 10 in the red.  The top 5 gainer component stocks were :-

1. ComfortDelGro  +0.080
2. Ascendas Reit  +0.070
3. SIA Engg  +0.070
4. OCBC  +0.060 
5. StarHub  +0.050

The top 5 loser component stocks were :-

1. JMH USD  -0.800
2. DBS -0.220
3. Wilmar  -0.050
4. JSH USD  -0.040
5. Jardine C&C  -0.040

US markets closed at least +0.1% yesterday and Asian bourses were mostly positive for the day with Nikkei +0.12%, SSE +0.87% and HSI +1.39%.  STI in line with regional bourses rose 0.18% in typical thin volume and value with 16 of the 30 index stocks posted gain.

Firm Retail Sales data allowed US markets to rise at least 0.1% yesterday and Asian markets taking the cue and brushing aside news that IMF left the table in Greek debt talk with SSE hit another new 7-years high.  For global markets, the relief rally or technical rebound continued but be cautious that thing can start to turn down next week.

STI with the help of blue chips bargain hunting and short-covering against profit taking managed to close positive for the day.  Though broader market saw some up lift but quite upside is pretty much limited.  Two things to monitor for, can market hit a lower low in the next 2 weeks ? How market going into consolidation in the next 2 weeks.

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