Friday, June 24, 2016

Daily Summary 24 Jun 16

European bourses and Dow were sharply up last night due to receding fear of a Brexit. Dow closed +230. Dow's trend broke up and looking up. But Dow's future is now -444 as the Brits have voted to get out of EU. European bourses opened with sharp losses.

Asian bourses took a big hit. Nikkei -1286, ShanghaiC -36, Hangseng -609. STI closed -59 at 2735. Volume was 1.5b shares. Gainers were 96 to 341 losers.

Trend of STI broke downwards.

Top volumes were Ezra -0.3, Noble -0.5, Genting -2.5, GlobalLogistic -4, SingTel -5, GoldenAgri -1.5, Annica unchanged, AllianceMineral -0.5, FraserL&I -0.5, Loyz -0.2, CNMC +2.

STI opened flat, fell immediately only to recover quickly to just turn green. But it could not hold as the voting of Brexit showed that voters were wanting Britain out of EU. It subsequently fell sharply when the result of Britain out of Europe was confirmed. STI closed near day low but relatively stable compared to Nikkei and Hangseng. Blue chips were mostly in the red. The general market was down with gainer loser ratio1 to 4.

European bourses are sharply down at this moment. Dow's future is likewise down more than 400 pts. The closing in Europe and Dow would not going to be good tonight.


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