FTSE STI closed 2,611.89, up 28.16 points or +1.09% with a total volume of 1.84b and a total value of S$1.84b. Total number of advance vs decline was 337 vs 171. Of the 30 component index stocks, 23 closed positive, 5 closed negative and 2 remained unchanged. The top 5 gainer component stocks were :-
1. Jardine C&C +0.900
2. SGX +0.300
3. JSH 500US$ +0.240
4. HKLand US$ +0.220
5. DBS +0.200
The top 5 loser component stocks were :-
1. CapitaMall -0.080
2. SingTel -0.050
3. UOB -0.040
4. SembCorp -0.030
5. ST Engg -0.010
US markets rebounded at least 1% yesterday night after a better than expected Service ISM data and GS upgrading of the bank stocks. Asia bourses took the cue and opened in the positive region. However, the market still lack the catalyst to move further up and remained range bound. Nikkei closed +0.18% with investors worrying of strong yen. HSI closed +1.87% and STI +1.09%. STI was capped with the sell down of SingTel when India telco announced a new billing system which potentially will hurt the revenue of SingTel operation in India. Market is still in consolidation phase ahead of the coming earning season.
