FTSE STI closed 3,086.64, up 9.50 points or +0.31% with a total volume of 1.57b and a total value of S$1.19b. Total number of advance vs decline was 222 vs 150. Of the 30 component index stocks, 8 closed negative, 4 unchanged and 18 closed positive. The top 5 gainer component stocks were :-
1. Jardine C&C +1.240
2. JSH 500US$ +0.700
3. CityDev +0.230
4. DBS +0.120
5. Capitaland +0.110
5. UOB +0.110
The top 5 loser component stocks were :-
1. JMH 400US$ -0.460
2. HKLand US$ -0.160
3. CapitaMall -0.020
4. SIA -0.010
5. Olam -0.010
5. GLP -0.010
5. F&N -0.010
US markets closed positive yesterday night after a better than expected ADP job number and ISM Services sector data. Asian bourses were mostly positive for the day with Nikkei +0.89%, HSI +0.09% and STI +0.31%. Volume for STI was moderate with 18 of the 30 index stocks register positive closing.
It was mostly short-covering that dominated today STI. With a better than expected ADP data ahead of Friday unemployment data and tonight ECB meeting, investors pretty much closing short position for higher beta stocks. In the pre earning play, high yield and defensive stocks continued to advance as investors in search of dividend ahead of their earning.
