FTSE STI closed 3,040.75, up 14.14 points or +0.47% with a total volume of 1.22b and a total value of S$1.04b. Total number of advance vs decline was 225 vs 127. Of the 30 component index stocks, 6 closed negative, 3 unchanged and 21 closed positive. The top 5 gainer component stocks were :-
1. UOB +0.180
2. HKLand US$ +0.150
3. CityDev +0.140
4. SIA +0.070
5. OCBC +0.050
5. Wilmar +0.050
The top 5 loser component stocks were :-
1. Jardine C&C -0.500
2. JMH 400US$ -0.270
3. JSH 500US$ -0.080
4. Genting SP -0.030
5. SingTel -0.010
5. CapitaMall -0.010
US markets rose at least 1% yesterday after better than expected economic data in manufacturing, jobless claim and ADP number. Asian bourses taking the cue were mostly positive for the day. Nikkei +1.17%, SSE +0.60% and HSI +1.33%. STI under performing among the regional bourses only rose 0.47% with thin volume. 21 of the 30 index stocks managed to post positive closing.
The better than expected US economic data has given some optimism ahead of today unemployment data. Asian bourses with China economic showing sign of stability gave some boost for funds to flow to Asian bourses in particular HSI which has been outperforming for the past days. STI continued to suffer probably funds selling so that they can rotate to HSI again showing weakness in the afternoon when the sellers coming out to sell again. However, the selling pressure has eased as compared with past days. Once these selling has been fully absorbed, STI should be able to see some short-term term rebound across the board. Meanwhile the index STI is not a true reflection of the board market.
