FTSE STI closed 3,292.15, down 8.85 points or -0.27% with a total volume of 1.15b and a total value of S$989M. Total number of advance vs decline was 150 vs 242. Of the 30 component index stocks, 12 closed positive, 2 unchanged and 16 in the red. The top 5 gainer component stocks were :-
1. JMH 400USD +0.850
2. Jardine C&C +0.240
3. Olam +0.110
4. SembCorp +0.020
5. SingTel +0.020
The top 5 loser component stocks were :-
1. UOB -0.360
2. DBS -0.220
3. OCBC -0.100
4. StarHub -0.090
5. CityDev -0.090
US markets closed positive yesterday but Asian bourses were mixed for the day. Nikkei +2.05%, SSE -0.12% and HSI +0.27%. STI opened positive but closed -0.27% in average volume but thinner value than yesterday. 12 of the 30 index stocks posted gain.
With positive corporate earning, US markets continued the advance with DJ and S&P500 setting another record closing. Asian bourses were mixed due to profit taking. With corporate earning coming to a close and not much of economic data, global markets should be going into consolidation soon.
STI pull back after past days of advance, closing below the 3,300 level, a temporary resistance for the moment. What STI needs now is consolidation, further weakness for the next couple of days will be something expected for the time being.
