FTSE STI closed 3,194.31, down 14.27 points or -0.44% with a total volume of 5.30b and a total value of S$1.22b. Total number of advance vs decline was 171 vs 284. Of the 30 component index stocks, 12 closed positive, 1 unchanged and 17 in the red. The top 5 gainer component stocks were :-
1. Wilmar +0.050
2. SGX +0.030
3. StarHub +0.020
4. CapitaMall +0.015
5. CapMallsAsia +0.015
5. Genting SP +0.015
The top 5 loser component stocks were :-
1. JSH 500US$ -0.630
2. JMH 400US$ -0.450
3. UOB -0.150
4. DBS -0.140
5. OCBC -0.070
5. Kep Corp -0.070
US markets closed down for the 5th day in a row as US debt ceiling deadline approaches. Asian bourses were mostly lower with Nikkei +1.22%, SSE -1.94% and HSI -0.36%. STI fell 0.44% with a moderate volume and thin value day. Only 12 of the 30 index stocks registered positive closing.
As the deadline for US Government facing shutdown due to the debt ceiling approaches, the at the moment no solution from US lawmakers weighed on global markets resulting in bias towards the downside. STI with no exception is facing selling pressure. Even the punters have toned down on penny stocks punting to minimize risks. At the moment though stock prices were falling, they are still moving in range bound mode. STI will behave in such a mode until either a very positive or negative news emerges from the US lawmakers in addressing the debt ceiling. With such uncertainty around, investors best to stick with fundamental. Good fundamental stocks will be able to rebound upon positive news.
