Daily Summary 27 Jun 16

 

Europe and Dow fell sharply on Friday losing more than 5% each. Dow closed -610 at 17401. Dow's short term trend broke down sharply. Dow's future is -62 at the moment. Europe opened firmly down. 

Asian bourses more mixed but firm. Nikkei +357, ShanghaiC +41, Hangseng -32. STI closed -6 at 2730. Volume was 1.5b shares. Gainers were 160 to 214 losers.

Short term trend of STI has turned down.

Top volumes were AnchorResources +0.8, Cedar +0.1, Ezra -0.2, Noble unchanged, GCCP +0.8, CNMC +3.5, GlobalLogistic -3, FraserL&I -0.5, SingTel +7, GoldenAgri unchanged.

STI opened down and staged a recovery by moving up through the session to turn slightly positive in mid after with +15 pts. It then fell back with Europe opened down but closing flat at +1 but slipped a few points after matching. Blue chips were mixed. The general market was weaker with more losers than gainers.

European bourses and Dow's future at this moment are down but not as bad as Friday. Should see some pull back after the sharp losses.