Monday, June 30, 2014

Daily Summary 30 Jun 14

Europe closed mixed on Friday while Dow was +6 at 16852.  Dow's trend is slipping down. Dow's future is now -2.  Europe opened up.

Asian bourses were mixed.  Nikkei +67, ShanghaiC +12, Hangseng -31.  STI closed -15 at 3256.  Volume was 2.5b shares.

Short term trend of STI is slipping down as well.

Top volumes were Transcu +0.1, Polaris +0.3, Oceanus +0.1, ChinaIntl +0.6, ICP +0.1, PNEMicron +0.5, APAC -0.1, Mirach +0.5, Adventus unchanged, Vibrant +0.7.

Market opened flat but slipped down and stayed at -5/6 pts for the whole morning. It fell further in the afternoon but closed off its low. Blue chips were mostly weaker. Penny and speculatives were also mostly weaker.

Market was expected to fall given the sharp fall in Dubai on Friday, a drop of 6.7% and a total of 25% from May. However this did not seem to have any impact on the regional bourses.

Dow and Europe are looking steady at the moment.

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