FTSE STI closed 3,045.67, down 1.14 points or -0.04% with a total volume of 1.74b and a total value of S$1.25b. Total number of advance vs decline was 178 vs 195. Of the 30 component index stocks, 12 closed positive, 4 unchanged and 14 closed negative. The top 5 gainer component stocks were :-
1. CityDev +0.200
2. SIA +0.190
3. OCBC +0.070
4. ST Engg +0.070
5. Capitaland +0.060
The top 5 loser component stocks were :-
1. JSH 500US$ -1.100
2. JMH 400US$ -0.910
3. DBS -0.100
4. Jardine C&C -0.070
5. Starhub -0.040
US markets on average rose 1% yesterday night after better than expected earning from Goldman Sachs. However, after the bell, Intel and IBM both posted weak set of earnings. Asian bourses taking the cue mostly closed positive. Nikkei +1.21%, SSE +0.32% and HSI +0.99%. STI was the worst performing bourses for the day closing -0.04% in a volume and value higher than past days.
US corporate earnings mostly beating expectation so far but question was is the expectation so low that those set of result easily beaten it ?
Singapore this morning posted a surprise shrink in September non-oil export data coming in -3.4% on year vs +2.5% expected. This has again resurfaced the idea of possibility of technical recession. Most of STI activities again focus on pre-earning play in particular those S-Reit.
Nothing has changed much and getting over excited due to better than expected earning is never a wise move under current global situation.
