FTSE STI closed 3,096.10, up 0.71 points or +0.02% with a total volume of 3.47b and a total value of S$2.39b. Total number of advance vs decline was 295 vs 269. Of the 30 component index stocks, 14 closed positive, 13 closed negative and 3 remained unchanged. The top 5 gainer component stocks were :-
1. Jardine C&C +0.320
2. SGX +0.200
3. JSH 500US$ +0.140
4. SIA +0.100
5. Capitaland +0.060
5. JMH 400US$ +0.060
The top 5 loser component stocks were :-
1. DBS -0.060
2. KepCorp -0.050
3. Olam -0.050
4. UOB -0.040
5. SembCorp -0.040
5. SembMar -0.040
US markets closed flat yesterday night after a better than expected housing start data and Fed's comment on the economy. In general US Fed was more concern about deflation rather than inflation and also suggested that it will pump in stimulus if required to boost the economic growth. Investors initially cheered on that with a bump in the stocks but that sentiment soon faded as investors wanted to see detail plan from Fed on how it will come in to boost the economy. Asian bourses were mixed for the day with Nikkei closed -0.37% and HSI +0.21%. SSE was closed for holiday. STI started in the negative region but soon find some momentum to carry the index to hit another new intra-day high of 3,116.20 just 4 points shy off the target of 3,120 before retracting to close flat with a +0.02% gain. STI was unable to hold on to the gain as European markets opened down at least 0.5% and coupling with DJ future in the red, investors chose to be cautious and taking off some profit. Blue chips were mixed with property stocks cushioning the index and banking stocks still under selling pressure.
