FTSE STI closed 3,224.80, up 23.06 points or +0.72% with a total volume of 4.62b and a total value of S$1.75b. Total number of advance vs decline was 247 vs 209. Of the 30 component index stocks, 3 closed negative, 4 unchanged and 23 closed positive. The top 5 gainer component stocks were :-
1. JMH 400US$ +0.980
2. Jardine C&C +0.760
3. JSH 500US$ +0.630
4. Capitaland +0.080
5. SIA +0.080
The 3 loser component stocks were :-
1. StarHub -0.030
2. GoldenAgr -0.020
3. F&N -0.010
US markets rose more than 2% yesterday due to ISM data and the deal on the fiscal cliff. Asian bourses continued the advance today. Nikkei and both SSE still close for the new year and HSI +0.37%. STI rose 0.72% with heavy volume of more than 4 billion but total value still thin at S$1.75b. 23 of the 30 index stocks registered positive closing.
The positive effect on the patch-up fiscal cliff deal, US ISM data and this morning China service sector data continued the buying momentum for regional bourses. Though sentiment is positive, the US debt ceiling and across-the-board spending cut issue still at large and US Congress will have to address that 2 months later. That should not provide any overly optimism to investors in general.
Again STI was dominated with penny play (a very similar situation the same period as of 2012). Profit taking were seen and question will be asked whether the current positive momentum can continue for the next few days.
