FTSE STI closed 3,077.14, down 2.00 points or -0.06% with a total volume of 1.68b and a total value of S$1.18b. Total number of advance vs decline was 123 vs 256. Of the 30 component index stocks, 6 closed positive, 6 unchanged and 18 closed negative. The top 5 gainer component stocks were :-
1. JMH 400US$ +1.750
2. JSH 500US$ +0.670
3. OCBC +0.050
4. SIA +0.030
5. SPH +0.020
The top 5 loser component stocks were :-
1. Jardine C&C -0.500
2. UOB -0.140
3. KepCorp -0.070
4. SembCorp -0.050
5. SGX -0.040
5. Wilmar -0.040
5. DBS -0.040
US markets gave up earlier gain and closed mixed yesterday after Spanish PM rejected immediate bailout request. Asian bourses were mostly negative for the day. Nikkei -0.45%, SSE closes for the week and HSI reopened with a +0.23%. STI traded in negative region throughout the day but managed to claw back from loss on close to a 2 points drop only. Volume was moderate and only 6 of the 30 index stocks managed to register positive closing.
Palm-oil price dropped to a 3-year low and that was pretty much the focus of the day as palm-oil related stocks were on a sell down. Singapore PMI indicated a contraction at 48.7 for September vs 49.1 in August and this has further increases the odd of a possible technical recession. That doesn't help the sentiment for STI either.
While most of the stocks were on a selling mode, some of the bright spots were spotted for pre earning season play. SPH will be releasing its full year result on 12th October 2012 and will be declaring a final dividend. Those in chasing for dividend yield has driven up prices of SPH up for past days ahead of the result and that was one of the brighter spot in STI. Other high-yield stocks also seeing more interest ahead of their respective earning. These stocks either drove up ahead of dividend or still in consolidation mode.
