FTSE STI closed 3,123.89, up 35.69 points or +1.16% with a total volume of 5.06b and a total value of S$1.46b. Total number of advance vs decline was 331 vs 155. Of the 30 component index stocks, 24 closed positive, 2 unchanged and 4 in the red. The top 5 gainer component stocks were :-
1. JMH 400US$ +3.01
2. Jardine C&C +2.54
3. JSH 500US$ +2.21
4. CityDev +0.11
5. ST Engg +0.09
The 4 loser component stocks were :-
1. UOB -0.090
2. DBS -0.07
3. SIA Engg -0.02
4. GLP -0.02
US markets rose average 1% due to encourage China trade data. Asian bourses continued the rally today with Nikkei +1.54%, SSE +1.15% and HSI +0.99%. STI in line with regional bourses rose 1.16% in a heavy volume but thin value with 24 of the 30 index stocks posted gain.
After yesterday focus on China better than expected trade data and Japan's hope of economy recovery after landing the right to hold Olympics in 2020, another set of China economic data brought further cheers to investors. China released its Industrial Output this morning coming in at +10.4% for August beating market expectation and Retail Sales came in at +13.4% also beating expectation. Apart from that, Russia President proposed that Syria Government to hand over those Chemical weapons rather that launching a strike. US President was positive on that proposal as an alternative to strike and should Syria Government followed the proposal, a war should be able to avoided and that will bring some relief to investors. However, will Syria Government hands over the chemical weapons ? To hand over meaning they admit that they did use that. Though it is too early to call it a victory over the Syria issue, any thing could happen next and another twist to the event could actually lead to US air strike Syria and global markets could feel the panicking there. Still maintain cautious on the Syria issue.
STI was on heavy volume for the day but mainly due to penny stocks getting for the action as short-term traders raise the risk level to punt on penny stocks. Big caps did move up due to optimism in the global economy fundamental but still have that cautiousness in it.
