FTSE STI closed 3.060.34, up 0.91 points or +0.03% with a total volume of 1.53b and a total value of S$1.39b. Total number of advance vs decline was 199 vs 195. Of the 30 component index stocks, 13 closed positive, 5 unchanged and 12 closed negative. The top 5 gainer component stocks were :-
1. CityDev +0.140
2. SGX +0.110
3. SIA +0.080
4. ST Engg +0.070
5. SPH +0.050
5. StarHub +0.050
The top 5 loser component stocks were :-
1. JSH 500US$ -0.580
2. Jardine C&C -0.150
3. JMH 400US$ -0.100
4. UOB -0.070
5. SembCorp -0.030
US markets closed at least +0.5% yesterday night after series of economic data. 2Q final GDP came in +1.3% down from +1.7% while jobless claims fell more than expected. Asian boureses were mixed for last trading day of 3Q. Nikkei -0.89%, SSE +1.45% and HSI +0.38%. STI gave up earlier gain to finish +0.03% in moderate volume with 13 of the 30 index stocks registered positive closing.
US economic data were mixed and Spain new budget aim to cut debt despite protest from its citizens brought some relief to EU debt crisis. China will be on a 1 week break next week for National Day and SSE continued the rally from yesterday with anticipation that Chinese Government will announce some measures to boost its economy. STI was torn between 3Q window dressing and profit taking ahead of weekend resulting in flat closing. Most of the higher beta stocks closed lower while those more defensive and high-yield backed were dressed up. Another news for today was F&N's EGM outcome of approval the sale of APB to Heineken while the propose capital reduction at the price of $8.50 of 1 share for every 3 shares was not approved.
3Q is over, investors will be focusing on earning season starting next month. For 3Q globally there was synchronized slow down in economic growth and hence do not be over optimistic on the corporates' earning. Some will maintain its resilient earning while those more expose to global headwind will be hit by the global slow down.
