Thursday, April 28, 2011

Market Summary -- 28th Apr 11

FTSE STI closed 3,184.99, up 2.31 points or +0.07% with a total volume of 1.03b and a total value of S$1.32b.  Total number of advance vs decline was 198 vs 262.  Of the 30 component index stocks, 12 closed positive, 14 closed negative and 4 remained unchanged.  The top 5 gainer component stocks were :-

1. Jardine C&C  +1.080
2. JMH 400US$  +0.380
3. UOB  +0.160
4. CityDev  +0.120
5. HKLand US$  +0.110

The top 5 loser component stocks were :-

1. SIA  -0.140
2. ST Engg  -0.040
3. SGX  -0.030
4. CapitaMall  -0.030
5. NobleGrp  -0.020
5. SingTel  -0.020
5. F&N  -0.020

US markets advanced to new high yesterday night after Fed's comment on stimulus exit plan and US recovery.  US Fed will not further inject stimulus after the QE2 expires in June given that US economy is recovering well.  That went well with investors that move up the market.  Asian bourses took the cue and were traded in positive region for the early part of the day but with profit taking kicking in, soon closed mixed with Nikkei +1.63%, SSE -1.31% and HSI -0.37%.  STI with resistance at 3,200 failed to break and swing to negative in the afternoon, soon closed flat with a +0.07% gain.  Volume was low as investors probably occupied with the election event now.  Tonight US will announce its 1Q GDP and corporate earning from Microsoft also will be announced.