Friday, June 19, 2015

Market Summary -- 19th Jun 15

FTSE STI closed 3,300.96, up 0.54 points or +0.02% with a total volume of 1.37b and a total value of S$1.32b.  Total number of advance vs decline was 242 vs 179.  Of the 30 component index stocks, 10 closed positive, 4 unchanged and 16 in the red.  The top 5 gainer component stocks were :-

1. DBS  +0.100
2. Capitaland  +0.050
3. SPH  +0.050
4. OCBC  +0.040
5. Sembcorp  +0.030
5. SingTel  +0.030
5. StarHub  +0.030

The top 5 loser component stocks were :-

1. Jardine C&C  -0.450
2. HongkongLand USD  -0.240
3. JSH USD  -0.160
4. SIA  -0.140
5. CityDev  -0.110

US markets closed average +1.0% yesterday and Asian bourses mostly traded positive for the day with Nikkei +0.92%, SSE -6.36% and HSI +0.25%.  STI managed to stay positive for most of the session closing flat in higher volume and value with 10 of the 30 index stocks posted gain.

A post US Fed rally allowed Nasdaq to hit new record high while rest of the markets managed average 1% gain.  Asian markets taking the cue mostly traded except for SSE which fell more than 6% undergoing the bull market correction or maybe bursting of the hot equity market bubble.  Without any surprise, there wasn't any deal from yesterday EU Finance Ministers meeting regarding Greece's debt but an extra meeting will be schedule on coming Monday to salvage perhaps the last effort for Greece to strike a deal.  Do not place much hope on any possible resolution then too but rather spend the time and effort to think of measure to contain the spillover if Greece default and exit euro.

STI was flat after yesterday sell off with again due to bargain hunting, short-covering and portfolio adjustment of the blue chips.  Market will be volatile especially for the blue chips next week not because of Greece issue but rather being the last week of 1H 2015 in which fund managers continue on their portfolio adjustment.  Watch out for bargain hunt opportunity and ignore those movement due to fund managers window dressing.

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