FTSE STI closed 3,293.39, up 4.15 points or +0.13% with a total volume of 2.03b and a total value of S$2.15b. Total number of advance vs decline was 241 vs 272. Of the 30 component index stocks, 13 closed positive, 13 closed negative and 4 remained unchanged. The top 5 gainer component stocks were :-
1. OCBC +0.310
2. HKLand US$ +0.120
3. Jardine C&C +0.100
4. SingTel +0.060
5. UOB +0.060
5. SIA +0.060
The top 5 loser component stocks were :-
1. JMH 400US$ -1.340
2. JSH 500US$ -0.700
3. Wilmar -0.210
4. SembMar -0.100
5. CapMallsAsia -0.040
5. KepCorp -0.040
US markets closed slightly positive yesterday night after a better than expected jobless claim data and US trade gap narrowed. Asian bourses were mostly positive for the day even though after China reported a 4.4% inflation and concern of more tightening measures will be rolling out. Nikkei closed +0.31%, SSE +1.04% and HSI +0.82%. STI in line with other regional bourses range bound around the 3,300 level and managed to close +0.13% just 7 points shy off the 3,300 level. Blue chips were mixed for the day. With DJ future in the red and European bourses trading slightly in the red, profit taking near closing time caused STI to close below the 3,300 level. Investors are awaiting for the outcome of the G20 meeting which starts today over the issue of currency and trade war and how US going to convince rest of the world the needs for QE2.
STI is now trading at the upper boundary of the uptrend channel with resistance at around the 3,310 level. It might range bound within the channel with lower boundary at around 3,220 for consolidating at the moment.
