FTSE STI closed 3,157.89, up 14.09 points or +0.45% with a total volume of 582M and a total value of S$560M. Total number of advance vs decline was 228 vs 166. Of the 30 component index stocks, 26 closed positive, 3 closed negative and 1 remained unchanged. The top 5 gainer component stocks were :-
1. JSH 500US$ +0.300
2. F&N +0.160
3. Jardine C&C +0.160
4. SIA +0.100
5. OCBC +0.090
The 3 loser component stocks were :-
1. JMH 400US$ -0.280
2. Wilmar -0.030
3. SMRT -0.010
US markets were mixed last Friday ahead of the Christmas holiday. Over the weekend, China hike interest rate by 25 basis points as China Government determined to curb rising inflation. Asian bourses were mixed in reaction to the news. Nikkei closed +0.75%, SSE reversed earlier gain of more than 1% to close -1.90% and HSI was closed for holiday. STI managed to stay in positive region throughout the day in a very thin volume day with only 582M being traded. Fund managers probably still yet to be back from holiday and together with HSI being closed for holiday, there was a lack of direction for the market but was mainly not affected by China decision of rate hike. Singapore Government will release its 2010 GDP on 3rd Jan 2011 and most expecting a +15% GDP growth for 2010 could be achieved. Investors one eye were on how world markets react to China rate hike and the other on possible year end window dressing.
