Wednesday, July 22, 2009

Market Summary -- 22nd Jul 09

FTSE STI closed 2,450.83, down 3.50 points or -0.14% with a total volume of 1.89b and a total value of S$1.71b. Total number of advance vs decline was 217 vs 275. Of the 30 component index stocks, 11 closed positive, 16 closed negative and 3 remained unchanged. The top 5 gainer component stocks were :-

1. UOB +0.160
2. KepCorp +0.130
3. JSH 500US$ +0.100
4. Wilmar +0.040
5. HKLand US$ +0.040
5. SPH +0.040
5. DBS +0.040

The top 5 loser component stocks were :-

1. CityDev -0.340
2. Jardine C&C -0.200
3. SIA -0.140
4. SGX -0.130
5. Olam -0.080

US markets continued to move up yesterday night after some positive corporate earnings result and US Federal Reserve Chairman positive comment. Asia bourses opened positively in reaction to US markets however profit taking kicked in in the afternoon session causing some of the bourses to close negative for the day. Nikkei closed +0.74%, SSE +2.60% and HSI -1.30%. STI reversed earlier gain from profit taking and closed -0.14% with mixed closing from the blue chips. Markets are looking for an overdue pullback at the moment.