Monday, June 15, 2015

Market Summary -- 15th Jun 15

FTSE STI closed 3,323.13, down 30.72 points or -0.92% with a total volume of 1.05b and a total value of S$937M.  Total number of advance vs decline was 127 vs 305.  Of the 30 component index stocks, 7 closed positive, 3 unchanged and 20 in the red.  The top 5 gainer component stocks were :-

1. Noble  +0.035
2. SIA  +0.030
3. Ascendas Reit  +0.020
4. CapitaMall Trust  +0.010
5. Ascendas Reit  +0.010

The top 5 loser component stocks were :-

1. JMH USD  -0.800
2. Jardine C&C  -0.560
3. UOB  -0.330
4. JSH USD  -0.290
5. DBS  -0.230

US markets fell at least 0.60% last Friday and Asian bourses were all in a sea of red with Nikkei -0.09%, SSE -2.00% and HSI -1.53%.  STI fell 0.92% in thin daily volume and value with only 7 of the 30 index stocks managed to register gain.

Without much positive economic data and the Greek's debt issue weighed, US markets fell at least 0.60% after past 2 days of rebound.  Asian markets with the lack of cue and positive data or news were all in the red after news that Greece's debt talk fail again.  Meanwhile, news that European Governments were putting in contingency plan of a possible Greece default and exit from Euro further added on the bearish sentiment.  Apart from Greece's debt issue, focus for the week will be US Fed FOMC meeting starting tomorrow as investors see the meeting as a signal of when US Fed will start to hike interest rate.

STI fell 0.92% mainly due to selling off of blue chips especially the bank stocks and the usual suspect of Jardine group of stocks after strong rebound for the past 2 days.  Broader market however fared slightly better, they were either muted or faced with slight selling pressure.  Current sentiment might be biased towards the downside but always look out for bargain hunt opportunity.

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