Thursday, August 20, 2015

Market Summary -- 20th Aug 15

FTSE STI closed 3,009.7,8 down 31.47 points or -1.03% with total volume of 1.44b and a total value of S$1.24b.  Total number of advance vs decline was 83 vs 418.  Of the 30 component index stocks, 6 closed positive, 1 unchanged and 23 closed negative.  The top 5 gainer component stocks were :-

1. Genting SP  +0.010
2. SGX  +0.010
3. SPH  +0.010
4. ThaiBev  +0.010
5. Wilmar  +0.010

The top 5 loser component stocks were :-

1. Jardine C&C  -0.280
2. DBS  -0.230
3. JMH USD  -0.200
4. JSH USD  -0.170
5. UOB  -0.160
5. OCBC  -0.160
5. HongkongLand USD  -0.160

US markets fell at least 0.80% yesterday and Asian bourses again in a sea of red with Nikkei -0.94%, SSE -3.39% and HSI -1.77%.  STI in line with regional markets fell 1.03% in typical volume and value with only 6 of the 30 index stocks registered gain.

US markets traded lower with fear on China issue, lower oil price and another inconclusive US Fed FOMC minutes.  The minutes failed to indicate a possible September rate hike which cause another uncertainty to the already present shaky sentiment.  Asian markets continued the sell down led by China markets.  Loss of confidence already hitting China market which spread to regional markets.

STI closed at day low around the 3,000 level.  The drop in index was weighed down by bank and Jardine group of stocks.  Present situation looks like market is foreseeing a technical recession in Singapore by the next quarter.  While the sell down might not be finished, a technical rebound should be on the way.  A fall to 2,850 to 2,900 level is very much possible if Singapore confirms entering a technical recession.

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