FTSE STI closed 3,192.18, up 49.56 points or +1.58% with a total volume of 1.84b and a total value of S$2.26b. Total number of advance vs decline was 341 vs 177. Of the 30 component index stocks, 22 closed positive, 4 closed negative and 4 remained unchanged. The top 5 gainer component stocks were :-
1. JMH 400US$ +1.000
2. JSH 500US$ +0.720
3. Jardine C&C +0.500
4. KepCorp +0.320
5. HKLand US$ +0.300
The 4 loser component stocks were :-
1. Capitaland -0.050
2. UOB -0.040
3. SMRT -0.020
4. ComfortDelGro -0.010
US markets were flat last Friday ahead of this week US mid-term election and US Fed meeting. Asian bourses were mostly positive for the day except Nikkei closed -0.52% with concern over strong yen. SSE +2.52% and HSI +2.41% after China PMI data showed a strong set of figure indicating China economy still growing. STI tracking other regional bourses closed +1.58% with 22 out of 30 component stocks closed positive. Sentiment was US Fed will start the QE2 in the coming meeting in which hot monies could be flowing into Asia markets. Secondly, Singapore might have a General Election before end of this year and this should firm up the stock market. However, STI still being resistance at 3,200 despite today +1.58%. In the afternoon, OCBC following UOB last Friday reported a set of better than expected result and that help lifted the sentiment and bargain hunting kicked in. A positive DJ future coupled with good European markets opening also added some better sentiment to the market. Current support for STI is at 3,120.
