FTSE STI closed 3,211.75, down 2.50 points or -0.08% with a total volume of 4.86b and a total value of S$1.42b. Total number of advance vs decline was 229 vs 238. Of the 30 component index stocks, 11 closed positive, 3 unchanged and 16 in the red. The top 5 gainer component stocks were :-
1. JMH 400US$ +0.710
2. JSH 500US$ +0.400
3. StarHub +0.080
4. Wilmar +0.050
5. Semb Corp +0.040
5. SIA +0.040
The top 5 loser component stocks were :-
1. Jardine C&C -0.790
2. UOB -0.140
3. HKLand US$ -0.130
4. SGX -0.070
5. Kep Corp -0.070
US markets fell average 0.3% yesterday and Asian bourses were mostly in the red. Nikkei -0.07%, SSE -0.61% and HSI -0.82%. STI fared slightly better than regional bourses with flat closing in another of those typical thin value day. Only 11 of the 30 index stocks registered positive closing.
It was cautious mode again as to is US economy really recovering and when US Fed will start to taper. Another worry is the US debt ceiling and what action will US lawmakers come out with this time to resolve the issue. Asian bourses retreated tracking the performance of US markets yesterday. With no corporate earning in focus, lacking of economic event less the usual US Fed tapering and US debt ceiling, markets direction was dictated by that.
STI was directionless for the day with again penny and micro penny stocks taking center stage dominating the trading activities. Index and blue chips movement will have to have some catalysts to trigger them like corporate earnings and resolution of US problem. While awaiting for those catalysts, it was just pure punting of those penny and micro penny stocks.
