FTSE STI closed 2,867.92, down 12.41 points or -0.43% with a total volume of 1.68b and a total value of S$1.57b. Total number of advance vs decline was 275 vs 212. Of the 30 component index stocks, 11 closed positive, 15 closed negative and 4 remained unchanged. The top 5 gainer component stocks were :-
1. SIA +0.060
2. CapitaMall +0.060
3. SembCorp +0.050
4. NOL +0.050
5. DBS +0.040
5. CapMallsAsia +0.040
The top 5 loser component stocks were :-
1. JMH 400US$ -0.700
2. JSH 500US$ -0.340
3. CityDev -0.200
4. Jardine C&C -0.160
5. KepCorp -0.150
US markets rallied on average at least 1.5% with tech stocks leading the up as investors' fear of the European debt eased. Asia bourses reacted to the rallied with a positive opening. Nikkei closed +2.18%, SSE +2.06% and HSI +1.04%. STI resistance at 2,900 reversed earlier gain and closed down 0.43% as European bourses were weak in the opening and DJ future dropped to the negative. Investors took profit off the blue chips with the Jardine group of stocks leading the drop. SingTel reported a better than expected earning this morning but failed to impress investors as price dropped 1%. CityDev yesterday after market closed also reported a better than expected earning but was down 1.84%. Though most of the blue chips' earnings are firmed, investors still chose to be cautious as the earning season getting to the end. Market will likely range bound as lack of catalyst to move up.
