FTSE STI closed 3,046.81, up 3.76 points or +0.12% with a total volume of 1.28b and a total value of S$1.1b. Total number of advance vs decline was 244 vs 152. Of the 30 component index stocks, 9 closed negative, 4 unchanged and 17 closed positive. The top 5 gainer component stocks were :-
1. CapMallsAsia +0.085
2. Wilmar +0.070
3. SGX +0.060
4. ST Engg +0.050
5. HKLand US$ +0.040
The top 5 loser component stocks were :-
1. JMH 400US$ -0.940
2. JSH 500US$ -0.750
3. UOB -0.070
4. SPH -0.040
5. SIA -0.030
5. Jardine C&C -0.030
US markets rose at least 0.6% yesterday night after a better than expected retail sales data and earning from Citigroup. Asian bourses taking the cue were positive for the day. Nikkei +1.44%, SSE 0% and HSI +0.28%. STI rose 0.12% in thin volume and 17 of the 30 index stocks posted gain.
Apart from the better than expected US economic data and corporate earning, nothing much has changed globally and hence have to maintain cautious of the moving up.
Most of today STI attention was focus on S-Reits and most of the gainer stocks are them. A good set of earning from K-Reit (Keppel Reit) yesterday gave a series of buying calls for S-Reits and lifted the buying sentiment for today ahead of their respective earning in anticipation of good set of result. Lot of buying calls have been issued lately from analysts and some even conduct seminar to advise on buying. Question would have to ask why they did not do so a year ago when prices were much cheaper. Current prices are not attractive at all for investment as it is a trading market. Should investors buy, must know when to exit.
As more corporate earnings are expected to release, investors must also focus on the EU Summit from 18th - 19th to see what's the next step from EU leaders.
