FTSE STI closed 3,283.71, down 8.44 points or -0.26% with a total volume of 1.00b and a total value of S$1.02M. Total number of advance vs decline was 195 vs 219. Of the 30 component index stocks, 12 closed positive, 5 unchanged and 13 in the red. The top 5 gainer component stocks were :-
1. JMH 400USD +0.550
2. JSH 500USD +0.240
3. SGX +0.120
4. SIA +0.050
5. OCBC +0.040
The top 5 loser component stocks were :-
1. UOB -0.190
2. DBS -0.170
3. Kep Corp -0.100
4. Jardine C&C -0.100
5. HongkongLand USD -0.080
US markets closed with a slight gain yesterday and Asian bourses were mostly positive for the day. Nikkei +0.43%, SSE +1.00% and HSI +0.55%. STI however was underperformed closing -0.26% in thin volume and value with 12 of the 30 index stocks posted gain.
Despite the falling crude oil price, US markets still managed to edge out slight gain with both the DJ and S&P500 hitting another record closing. Most of Asian markets taking the cue were positive for the day with Nikkei hitting new 7-year high due to tax-hike delay talk. SSE and HSI were on a league of their own ahead of next week of the SSE-HKex linkage whereby investors snapping up stocks.
STI with the drag of bank stocks fell 0.26% in thin volume and value. Another possible reason for weakness in STI as compared to regional bourses could be funds rotating out and switching to HSI ahead of the SSE-HKex link to buy into China listed shares in SSE. With crude oil price continued the slide, offshore marine and oil related stocks also suffered the sell down, it is time to bargain hunt on these stocks as the drop in oil price is getting too pessimistic already.
