FTSE STI closed 3,016.40, up 7.68 points or +0.26% with a total volume of 1.27b and a total value of S$1.08b. Total number of advance vs decline was 187 vs 187. Of the 30 component index stocks, 15 closed positive, 5 unchanged and 10 closed negative. The top 5 gainer component stocks were :-
1. JMH 400US$ +0.400
2. JSH 500US$ +0.360
3. F&N +0.110
4. CityDev +0.090
5. SembCorp +0.080
The top 5 loser component stocks were :-
1. Jardine C&C -0.370
2. UOB -0.050
3. Wilmar -0.040
4. SPH -0.040
5. SGX -0.040
US market fell average at least 0.4% yesterday night with concern of weak set of China trade data. Asian bourses were mixed for the day with Nikkei -0.70%, SSE -0.67% and HSI +0.15%. STI managed to edge out a 0,26% gain in thin volume with 15 of the 30 index stocks managed to post positive closing.
An eventful week as investors await tomorrow German court ruling on ESM, followed by Thursday US Fed FOMC in which many anticipating QE3 rolls out after weak economic data especially the employment situation and rounding off the week, EU Financial Ministers meeting. The bailout for Greece also in awaiting this week after the Trokia assessment on Greece ability to meet austerity target.
Remember any monetary easing is just a short-term solution that can never solve the long-term fiscal issues.
