FTSE STI closed 2,925.32, up 8.15 points or +0.28% with a total volume of 1.02b and a total value of S$1.10b. Total number of advance vs decline was 225 vs 206. Of the 30 component index stocks, 15 closed positive, 10 closed negative and 5 remained unchanged. The top 5 gainer component stocks were :-
1. JMH 400US$ +0.800
2. DBS +0.140
3. Jardine C&C +0.060
4. SIA +0.060
5. SPH +0.040
The top 5 loser component stocks were :-
1. JSH 500US$ -0.540
2. CityDev -0.160
3. NOL -0.050
4. UOB -0.040
5. SembCorp -0.030
US markets closed positive last Friday as investors are expecting a better set of earnings for companies in the coming earning seasons. Asian bourses initially traded in the positive region but soon profit taking kicked in and closed mixed. Nikkei closed -0.39% after DPJ lost majority seats in the upper house, SSE closed +0.80% and HSI +0.44%. A negative DJ future and flattish opening of the European markets allowed STI to pare gain from the resistance of 2,940 to close just +8.15 points with 15 out of 30 component stocks managed to close in the positive. Investors are awaiting for SPH's result after market hours to kick start the earning season. Though most believe earning will be better than expected but also concern about possible earning downgrade in the subsequent quarters as global economy growth has slowed down.
