FTSE STI closed 3,452.25, up 10.75 points or +0.31% with a total volume of 2.58b and a total value of S$1.52b. Total number of advance vs decline was 219 vs 191. Of the 30 component index stocks, 14 closed positive, 4 unchanged and 12 in the red. The top 5 gainer component stocks were :-
1. JMH 400US$ +2.240
2. Jardine C&C +1.200
3. JSH 500US$ +1.090
4. GLP +0.060
5. SIA +0.050
The top 5 loser component stocks were :-
1. CityDev -0.330
2. StarHub -0.110
3. DBS -0.100
4. HKLand US$ -0.060
5. KepCorp -0.050
US markets started off flat and closed with average +0.40% gain with DJ and S&P500 again hitting new 5-years high despite news of Euro area economy shrank more than expected and still in recession. Asian bourses were mixed for the day with Nikkei -0.39%, SSE +1.22% and HSI +0.17%. STI continued to edge higher with roughly same volume and value as past days. Of the 30 index stocks, 14 closed positive.
Global markets edged higher in general probably due to the fact of fear, fear of missing out the rally despite the overall fundamental of the global economy remains the same or probably slightly better than last year only. This morning there was only 1 economic news that was Japan 2Q2013 GDP came in at +0.9% better than the +0.7% expected. Other than that markets were driven by sentiment and profit taking.
STI same as regional bourses with positive sentiment driving stocks and index higher (Jardine group of shares practically moved up STI) while profit taking hit on those which have risen for past days. Should expect another profit taking day tomorrow for global markets.
