FTSE STI closed 3,224.97, up 19.69 points or +0.61% with a total volume of 1.99b and a total value of S$2.14b. Total number of advance vs decline was 324 vs 163. Of the 30 component index stocks, 19 closed positive, 4 closed negative and 7 remained unchanged. The top 5 gainer component stocks were :-
1. JMH 400US$ +1.080
2. JSH 500US$ +0.340
3. F&N +0.140
4. Wilmar +0.120
5. SIA Engg +0.110
5. NOL +0.110
The 4 loser component stocks were :-
1. Jardine C&C -0.700
2. UOB -0.060
3. CapitaMall -0.020
4. CapMallsAsia -0.010
US markets up at least 0.5% yesterday night as US went into mid-term election and start of Fed meeting. The outcome of the election which was confirmed afternoon Asia time was no surprise as Democrats retained control of the Senate while Republicans gained majority seats in the House of Representative. In addition, expectation for tonight Fed outcome was Fed going to pump in USD500 billion worth of stimulus. Asian bourses were mixed for the day with Nikkei closed +0.06%, SSE -0.47% and HSI +2.00%. Investors believed the excessive cash will flow into Hong Kong as the prime destination with property stocks leading the rally in HSI. STI maintained above the 3,200 level and advanced +0.61% with 19 out of 30 of the blue chips closed in the green as investors also believed the excessive cash will be flowing into other Asia markets apart from Hong Kong. European markets were flat as well as DJ future as investors await tonight Fed decision. STI current finding a temporary support at 3,200 and resistance at 3,250 level.
