Tuesday, August 18, 2015

Market Summary -- 18th Aug 15

FTSE STI closed 3,049.65, down 17.70 points or -0.58% with a total volume of 1.53b and a total value of S$1.17b.  Total number of advance vs decline was 111 vs 354.  Of the 30 component index stocks, 9 closed positive, 3 unchanged and 18 in the red.  The top 5 gainer component stocks were :-

1. SIA  +0.150
2. Jardine C&C  +0.080
3. DBS  +0.050
4. Olam  +0.030
5. UOB  +0.030

The top 5 loser component stocks were :-

1. JMH USD  -0.600
2. JSH USD  -0.220
3. SGX  -0.160
4. Kep Corp  -0.120
5. OCBC  -0.100

US markets rose at least 0.3% yesterday but Asian bourses were in a sea of red with Nikkei -0.32%, SSE -6.12% and HSI -1.43%.  STI gave up earlier gain and closed -0.58% in typical volume and value with 9 of the 30 index stocks posted gain.

US markets opened weak but managed to recover and closed positive after positive economic data.  For Asian markets, it was a different story, the fear of yuan devaluation returned causing China market to plunge more than 6%.  The negative sentiment spread to regional markets.  With already weak commodity price and now the yuan devaluation, investors will be looking at US Fed.  A rate hike next month which most anticipated could make matter worse.

STI started the day in positive taking lead from US markets overnight but the negative sentiment from regional markets soon caught up with it and the selling just piled up in the afternoon session.  Selling was across the board as short-term traders exit while mid and long term investors were just being cautious and waiting at the sideline.  

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