Wednesday, October 19, 2011

Market Summary -- 19th Oct 11

FTSE STI closed 2,720.21, down 4.48 points or -0.16% with a total volume of 1.20b and a total value of S$915M.  Total number of advance vs decline was 276 vs 186.  Of the 30 component index stocks, 16 closed positive, 11 closed negative and 4 remained unchanged.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.310
2. KepCorp  +0.230
3. DBS  +0.090
4. CityDev  +0.090
5. SembMar  +0.070

The top 5 loser component stocks were :-

1. JMH 400US$  -1.790
2. JSH 500US$  -0.510
3. F&N  -0.110
4. OCBC  -0.050
5. SIA Engg  -0.050

US markets reversed earlier loss and closed at least +1.5% yesterday night with series of events.  Goldman Sach reported loss in their earning, Bank of America beat expectation but what caused the market to reverse in the later session was a report from Guardians citing that Germany and France agreed on expanding the EU bailout funds to 2 trillion euro.  That news was yet to confirm by EU but do have some easing of fear effect to the market.  After market closed, Yahoo and Intel earning beat expectation while Apple first time miss expectation since 2004. That Apple effect caused US future to dip into the red.  Asian bourses took the cue and opened higher but closed mixed as investors still cautious ahead of this weekend EU summit.  Nikkei closed +0.35%, SSE -0.25% and HSI +1.29%.  STI gave up earlier gain and closed -0.16% with the drag down by JMH and JSH.  Volume was thin as compared to pass 2 days though.