FTSE STI closed 3,207.91, up 24.21 points or +0.76% with a total volume of 1.37b and a total value of S$1.20b. Total number of advance vs decline was 394 vs 107. Of the 30 component index stocks, 28 closed positive, 1 closed negative and 1 remained unchanged. The top 5 gainer component stocks were :-
1. Jardine C&C +0.400
2. JSH 500US$ +0.360
3. SIA +0.220
4. SGX +0.180
5. UOB +0.160
The only loser component stock was :-
1. JMH 400US$ -0.380
US markets closed mixed yesterday night with Nasdaq in the red while DJ and S&P500 both positive after home prices and consumer confidence fell short of expectation. Asian bourses were mostly positive for the day rebounding from the recent drop. Nikkei closed +0.50%, SSE +0.68% and HSI +1.54%. STI managed to move above the 3,200 resistance level and closed at 3,207.91 up 0.76% due to window dressings as 28 out of 30 component stocks registered positive closing. This level also slowly negate the breakdown of potential head-shoulder formation. The level to look out for will be 3,220. STI at current level also move back up to the uptrend channel after the recent breakdown at 3,185. Investors are eying for possible year end rally, capricorn effect but also cautious after mid-Jan next year, market might pull back.
