Monday, December 1, 2014

Daily Summary 1 Dec 14

Dow and Europe were flat on Friday. Dow closed +0.5 at 17828.  Trend of Dow is flattening. Dow's future is now 90.  Europe opened down.

Asian bourses were mostly down except Nikkei +130.  ShanghaiC - 2, Hangseng -620.  STI closed -45 at 3306.  Volume was 1.9b shares.  Gainers were 2 against 429 losrs.

Trend of STI is going down with MACDs cutting downwards.

Top volumes were GoldenAgri -1.5, Ezion -21, Elektromotive -0.1, IC unchanged, Mirach -2.4, SIIC -0.6, ResourcesPrima +1, Charisma -02, NexGen unchanged, Digiland -0.1.

Market opened flat and went positive for a short while. it then went downhill and went sharply down in late afternoon. It closed at day low at 3306, -45.  Two key issues, the rioting in Hongkong and the falling oil prices were the main factors causing the sharp fall especially in Hangseng.  Banks saw some profit taking but the worst hits were marine, oil and gas counters. Kep Corp, Semb Corp and Marine were sharply down.

Dow and Europe are looking weak tonight.

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