FTSE STI closed 3,025.46, up 13.64 points or +0.45% with a total volume of 1.22b and a total value of S$1.33b. Total number of advance vs decline was 193 vs 144. Of the 30 component index stocks, 19 closed positive, 6 unchanged and 5 closed negative. The top 5 gainer component stocks were :-
1. JSH 500US$ +0.200
2. JMH 400US$ +0.140
3. OCBC +0.120
4. SIA Engg +0.090
5. SembCorp +0.080
The 5 loser component stocks were:-
1. Jardine C&C -0.460
2. UOB -0.090
3. SIA -0.050
4. F&N -0.050
5. DBS -0.020
US markets fell at least 0.7% yesterday night after sluggish jobless claims data and investors believing there might be no hint of QE3 tonight from Jackson Hole. Asian bourses were mostly negative with Nikkei -1.60%, SSE -0.25% and HSI -0.36%. STI outperformed regional bourses with +0.45% closing, 19 of the 30 index stocks ended positive in a thin volume day.
Most investors were cautious ahead of tonight Jackson Hole meeting whereby starting to believe there might not have QE3. That should be and if coming next Monday market panic sell down due to no QE3, that will be bargain opportunity for the fundamentally strong companies. STI managed to edge out positive closing mainly due to month end window dressing ( which I stated past days selectively and look of most of the defensive stocks being dressed up ) and also positive opening from European bourses despite report that Euro-area unemployment rate hit record high at 11.3%.
