FTSE STI closed 2,989.28, up 2.65 points or +0.09% with a total volume of 2.99b and total value of S$803M. Total number of advance vs decline was 219 vs 158. Of the 30 component index stocks, 10 closed negative, 6 unchanged and 14 closed positive. The top 5 gainer component stocks were :-
1. Jardine C&C +0.630
2. JSH 500US$ +0.160
3. GLP +0.070
4. KepCorp +0.070
5. SIA +0.070
The top 5 loser component stocks were :-
1. OCBC -0.060
2. SIA Engg -0.040
3. HKLand US$ -0.030
4. Olam -0.030
5. F&N -0.030
US markets closed for Thanksgiving holiday and European markets closed positive as EU leaders gather to discuss in the EU budget. Asian bourses though mostly closed positive for the day, it was pretty much directionless too. SSE +0.58%, HSI +0.79% and Nikkei was closed for holiday. STI closed flat at +0.09% in heavy volume with 14 of the index stocks registered positive closing but total value for the day came in less than S$1b.
China new Premier Li Keqiang's comment on China will be focus on accelerating growth boost some positive sentiment for Asian bourses today as investors waiting for outcome of EU budget and also US fiscal cliff resolution next week. Advice is not to be overly bearish or bullish on the fiscal cliff issue as the Congress starts negotiating. Maintain cautiously optimistic.
Singapore reported its October inflation this afternoon coming in at +4% lower than the expected of +4.5%. STI also dominated by penny and micro-penny play as investors maintained cautious on the blue chips. Keep watching those defensive and high-yield stocks, funds are slowly moving back in. Under low interest rate environment with moderate high inflation and low bond yield, the safer way to get some decent return with the money is none other than those defensive and high-yield stocks.
