Thursday, August 6, 2015

Market Summary -- 6th Aug 15

FTSE STI closed 3,196.66, up 5.27 points or +0.17% with a total volume of 1.47b and a total value of S$1.00b.  Total number of advance vs decline was 193 vs 261.  Of the 30 component index stocks, 13 closed positive, 4 unchanged and 13 in the red.  The top 5 gainer component stocks were :-

1. JMH USD  +0.780
2. SIA  +0.210
3. DBS  +0.090
4. StarHub  +0.080
5. Capitaland  +0.050

The top 5 loser component stocks were :-

1. Jardine C&C  -0.150
2. HongkongLand USD  -0.110
3. KepCorp  -0.100
4. CityDev  -0.090
5. JSH USD  -0.080

US markets mostly close positive yesterday and Asian bourses were mixed for the day with Nikkei +0.24%, SSE -0.88% and HSI -0.57%.  STI swinging between gain and loss again closed slightly higher in typical volume and value with 13 of the 30 index stocks posted gain.

Mixed set of economic data in from a positive service ISM data to a lower than expected ADP job data sent US markets to close mostly higher.  Asian markets were also divided as lower oil price and rate hike speculation weighed in on some regional markets.  Tomorrow US non-farm payroll data will again causing some confusion to investors regarding rate hike.  Though most expecting a US rate hike next month but the recent global economy slow down should not be something to ignore as it will have impact on US economy as a whole.  US Fed again being caught in a catch-22 situation.  They should have started the rate hike some 6 months ago instead of delaying and kicking the can down the road.

STI closed with a slight gain in a relatively muted session as neither short, mid and long-term investors were willing to take up any position over the long weekend especially when US job data is due to release tomorrow.  What Singapore needs is to have some stabilization from next week onward regardless of the outcome of tomorrow job data.  That will prevent limited downside and consolidate to move up higher next.

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