FTSE STI closed 3,180.81, up 12.24 points or +0.39% with total volume of 3.34b and a total value of S$781M. Total number of advance vs decline was 300 vs 105. Of the 30 component index stocks, 8 closed negative, 3 unchanged and 19 closed positive. The top 5 gainer component stocks were :-
1. JSH 500US$ +0.470
2. JMH 400US$ +0.140
3. Jardine C&C +0.100
4. KepCorp +0.090
5. UOB +0.080
The top 5 loser component stocks were :-
1. SIA -0.040
2. HKLand US$ -0.030
3. DBS -0.020
4. StarHub -0.010
5. SembCorp -0.010
5. Olam -0.010
5. F&N -0.010
US markets closed in the red on Christmas eve due to concern of fiscal cliff. Asian bourses were mostly positive for the day. Nikkei +1.49%, SSE +0.25% and HSI was closed for Boxing Day. STI rose 0.39% to a new 52-week high with heavy volume of more than 3 billion but total value was extremely thin of not more than S$800M. 19 of the index stocks managed to post positive closing.
The issue of whether a deal can be made before year end on the fiscal cliff still weigh on investors but Asian markets were however on a different mindset. Investors at the moment ignoring the impact of the fiscal cliff and continue to drive up Asian bourses. A good sign or a bad sign ?
Singapore reported its November Industrial Output this afternoon coming in at +1.9% on Month and +3.1% on Year. On Month basis was better than expected but on Year basis was worse than expected. STI hit new 52-week high with the Jardine group of shares pushing the index up. Volume was heavy but mainly due to contribution from the penny and micro-penny stocks as total value came in way below S$1b. Not really a healthy sign though. Still have to be cautious with the market in general.
