FTSE STI closed 3,060.36, up 14.69 points or +0.48% with a total volume of 1.32b and a total value of S$1.07b. Total number of advance vs decline was 192 vs 154. Of the 30 component index stocks, 6 closed negative, 4 unchanged and 20 closed positive. The top 5 gainer component stocks were :-
1. Jardine C&C +1.800
2. JMH 400US$ +0.800
3. JSH 500US$ +0.150
4. SIA +0.140
5. DBS +0.100
5. KepCorp +0.100
The top 5 loser component stocks were :-
1. UOB -0.120
2. ST Engg -0.040
3. GLP -0.030
4. SembCorp -0.020
5. ComfortDelGro -0.015
US markets managed to close positive yesterday after a better than expected housing start data offsetting weak earning from tech companies. Asian bourses were positive for the day encouraged by China data. Nikkei +2.00%, SSE +1.24% and HSI +0.48%. STI rose 0.48% in slightly thin volume with 20 of the 30 index stocks register positive closing.
China released its 3Q GDP coming in within expectation of +7.4% and a better than expected retail sales figure of +12.4%. Those set of data signified China economy is stabilizing. Though STI rose 0.48% but most of the gain was contributed by the 3 Jardine group of shares. The strength in STI still lie in those high-yield stocks in particular S-Reits in which so far have been posting resilient earning.
EU Summit will commence today but somehow past days prior to the Summit has been very quiet in term of news and speculation. This EU Summit might not produce any fantastic outcome.
Investors as a whole should just focus on Singapore corporate earning.
