Friday, August 14, 2015

Market Summary -- 14th Aug 15

FTSE STI closed 3,114.25, up 22.47 points or +0.73% with a total volume of 1.28b and a total value of S$982M.  Total number of advance vs decline was 195 vs 241.  Of the 30 component index stocks, 18 closed positive, 3 unchanged and 9 in the red.  The top 5 gainer component stocks were :-

1. JMH USD  +0.330
2. DBS  +0.240
3. UOB  +0.230
4. ComfortDelGro  +0.100
5. Jardine C&C  +0.100

The top 5 loser component stocks were :-

1. HongkongLand USD  -0.120
2. SIA  -0.080
3. Sembcorp  -0.070
4. JSH USD  -0.060
5. Kep Corp  -0.050

US markets closed mixed with mostly in the red yesterday and Asian bourses were also mixed for the day with Nikkei -0.37%, SSE +0.28% and HSI -0.12%.  STI rose for the second day with a gain of 0.73% in typical volume and value than yesterday with 18 of the 30 index stocks posted gain.

It was profit taking for US markets after China effort to stabilize the yuan devaluation and a better than expected Retail Sales data.  For Asian markets, it was the same story of profit taking for the weekend after yesterday rebound.  PBoC continued to soothe yuan fears but investors were taking a cautious stance and chose to take profit over the weekend.  There is also a possibility that Chinese Government might release some monetary easing policy over the weekend or in the near term to stall the slowing economy.  Nevertheless, investors still choose to maintain cautious and continue to monitor the situation.

STI managed to recover some more from the drop 2 days ago as bargain hunting on the blue chips in particular bank stocks lifted the index.  The general sentiment is still slightly biased towards the bearish but most will be watching for stabilization from the market.  As most of the corporate earning will end today, macro events will be what dictate the market direction next.

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