FTSE STI closed 3,043.05, up 1.30 points or +0.04% with a total volume of 1.17b and a total value of S$871M. Total number of advance vs decline was 203 vs 176. Of the 30 component index stocks, 15 closed positive, 3 unchanged and 12 closed negative. The top 5 gainer component stocks were :-
1. Jardine C&C +0.580
2. JSH 500US$ +0.400
3. CityDev +0.060
4. HKLand US$ +0.060
5. SPH +0.040
The top 5 loser component stocks were :-
1. JMH 400US$ -1.210
2. UOB -0.110
3. SembCorp -0.060
4. StarHub -0.020
5. ST Engg -0.020
5. SIA -0.020
US markets closed mixed last Friday despite better than expected earning from JP Morgan and Wells Fargo as concern of weak earning in the future and lower global economic growth target. Asian bourses were also mixed for the day with Nikkei +0.51%, SSE -0.30% and HSI +0.06%. STI basically flat for the day closing +0.04% in thin volume day and total value for the day also dipped below S$1b. 15 of the 30 index stocks managed to post positive closing.
Over the weekend, China posted a better than expected trade data for September and inflation for September came in +1.90% as expected after being released this morning. The better than expected trade data has somehow offset some global concern of lower economic growth suggested by IMF over the IMF meeting past days.
Singapore started earning season last Friday when SPH posted a drop in net profit for FY12 but maintained the same dividend payout. Looking ahead for this week, apart from corporate earnings, economic data from China, US and Europe, there will be a EU Summit on 18th to 19th and focus should be switching back to Europe as to what will be the next steps by the EU leaders for the current debt crisis. It is fiscal policies that matter now and not stimulus.
