FTSE STI closed 3,205.52, down 12.74 points or -0.40% with a total volume of 5.53b and a total value of S$1.64b. Total number of advance vs decline was 158 vs 312. Of the 30 component index stocks, 13 closed positive, 2 unchanged and 15 closed negative. The top 5 gainer component stocks were :-
1. JSH 500US$ +0.600
2. Jardine C&C +0.320
3. HKLand US$ +0.070
4. SIA +0.060
5. StarHub +0.040
The top 5 loser component stocks were :-
1. JMH 400US$ -0.360
2. UOB -0.310
3. CityDev -0.190
4. DBS -0.150
5. Wilmar -0.110
US markets closed negative yesterday as investors refocus back to the fiscal cliff issue and ahead of corporate earning. Asian bourses were all the in red with Nikkei -0.86%, SSE -0.41% and HSI -0.94%. STI inline with regional bourses fell 0.40% in heavy volume mainly due to penny stocks and only 13 of the 30 index stocks managed to register positive closing.
US will start earning season today with Aloca reporting after market closes. Investors will be closely monitoring how companies fared for last quarter on top of the fiscal cliff issue, which showing no sign at the moment on how and what the Congress going to do. China will also be releasing series of economic data this week in particular the GDP figure in later part of the week. That will be another closely watch event.
STI as usual dominated by penny stocks play. Most of the blue chips and fundamental stronger stocks were seen pulling back ahead of corporate earnings. Do watch out for contraction in volume and possible trade restriction from local broker houses on those penny stocks. If that happens, prices can fall like nobody business.
