FTSE STI closed 3,147.67, up 0.47 points or +0.01% with a total volume of 1.11b and a total value of S$1.39b. Total number of advance vs decline was 153 vs 280. Of the 30 component index stocks, 11 closed positive, 17 closed negative and 2 remained unchanged. The top 5 gainer component stocks were :-
1. DBS +0.220
2. HKLand US$ +0.200
3. CityDev +0.180
4. KepCorp +0.080
5. SGX +0.070
5. OCBC +0.070
The top 5 loser component stocks were :-
1. JMH 400US$ -0.620
2. Jardine C&C -0.560
3. JSH 500US$ -0.340
4. SIA -0.200
5. F&N -0.060
5. CapMallsAsia -0.060
5. SembMar -0.060
US markets were mixed yesterday night after last minute selling off despite encouraging economic data of increasing industrial production and inflation rising lesser than expected. Furthermore, the tax-cut deal was approved by Senate for extension of another 2 years. Weighing on investors mind was the possible rating downgrade of Spain's Government bonds by Moody's. Asian bourses were mixed and range bound for the day. Nikkei closed +0.01%, SSE -0.46% and HSI -1.33%. STI moving within a +/- 10 points range from yesterday close level in a very thin volume day. With European bourses opened in the positive region, STI managed to close slight positive on close possible due to short-covering and some bargain hunting. Bank stocks were positive which prevented STI from dropping further. STI immediate support is at 3,120, the neckline of the potential head-shoulder formation.
