FTSE STI closed 3,290.26, down 2.99 points or -0.09% with a total volume of 1.55b and a total value of S$779M. Total number of advance vs decline was 178 vs 256. Of the 30 component index stocks, 8 closed positive, 7 unchanged and 15 in the red. The top 5 gainer component stocks were :-
1. JSH 500USD +0.400
2. JMH 400USD +0.380
3. UOB +0.110
4. SIA +0.060
5. SPH +0.040
The top 5 loser component stocks were :-
1. Jardine C&C -0.600
2. Hongkong Land USD -0.090
3. CityDev -0.060
4. Capitaland -0.060
5. Noble -0.050
US markets rebounded last Friday with gain of average 0.3%. Asian bouses were mixed for the day with Nikkei -1.09%, SSE +0.74% and HSI -0.08%. STI swinging between gain and loss closing yet again flat with thin volume and value. Only 8 of the 30 index stocks posted gain.
While investors are focusing on this week US Fed FOMC meeting the concern of Iraq's violence weighed. That resulted in Asian bourses showing mixed performance. For US Fed FOMC meeting, this Wednesday, most will expect US Fed to further taper on its stimulus but what they are focusing on is the signal from US Fed about interest rate hike.
STI was flat but can detect some selective bargain hunting in the blue chips. The penny punting also tone down probably due to World Cup and also staying cautious ahead of US Fed FOMC meeting, the violence from Iraq and the uncertainty in Ukraine too. This is not the period to punt for short-term but rather hawking for opportunity to accumulate for mid-term.
