FTSE STI closed 2,744.17, up 10.20 points or +0.37% with a total volume of 1.44b and a total value of S$1.23b. Total number of advance vs decline was 297 vs 163. Of the 30 component index stocks, 19 closed positive, 9 closed negative and 2 remained unchanged. The top 5 gainer component stocks were :-
1. JMH 400US$ +1.500
2. JSH 500US$ +0.990
3. DBS +0.160
4. KepCorp +0.120
5. F&N +0.120
The top 5 loser component stocks were :-
1. HKLand US$ -0.280
2. UOB -0.270
3. CityDev -0.040
4. Olam -0.030
5. SembMar -0.030
US markets closed mixed yesterday after JP Morgan's earning though beating expectation but concern was on its forecast. After market closed, Google's earning again beating expectation. Asian bourses were having a mixed day with Nikkei closed -0.85%, SSE -0.30% after reporting its September CPI to be +6.1% in line with expectation, a drop from +6.3% in August and HSI -1.36%. STI swinging between positive and negative managed to close positive on close after European bourses and US future turned positive, attracting short covering and bargain hunting to push the index back to positive and closed +0.37%. G20 meeting is starting today and tomorrow whereby issue regarding the EU debt will be closely discuss and investors will be watching for any measures being pen out from it.
This morning, Singapore released its 3Q GDP came in +1.3% beating expectation and avoid a technical recession. That some how cushion the STI from falling as compared to regional bourses. Markets have rebound sharply at least 8% since hitting the low last week. While many believe it is just a relief rally, but do keep the option opens that this could be sharp rebound like in March 2009. The seriousness in EU debt was summed up by European Central Bank President Jean-Claude Trichet "The crisis has reached a systemic dimension” in a mid-week statement and if anything goes by, this should indicate the bottom of the market.
