FTSE STI closed 3,019.33, down 12.36 points or -0.41% with a total volume of 1.29b and a total value of S$1.11b. Total number of advance vs decline was 168 vs 198. Of the 30 component index stocks, 11 closed positive, 2 unchanged and 17 closed negative. The top 5 gainer component stocks were :-
1. Capitaland +0.080
2. CityDev +0.070
3. Jardine C&C +0.070
4. CapMallsAsia +0.045
5. GLP +0.040
The top 5 loser component stocks were :-
1. JSH 500US$ -0.370
2. KepCorp -0.300
3. SembCorp -0.290
4. SembMar -0.280
5. JMH 400US$ -0260
US markets closed positive yesterday after opening flat ahead of today US Presidential Election. Asian bourses were practically on cautious mode for the day with mostly closing negative. Nikkei -0.36%, SSE -0.38% and HSI -0.28%. STI fell 0.41% in thin volume with 11 of the 30 index stocks managed to register positive closing.
It was a cautious day with those rushing to sell basically is the last day to sell ahead of the US Presidential Election. The short-covering and bargain hunting were however not enough to absorb the selling thus ended with most of the stocks closing in the red. Investors are being cautious ahead of the outcome of US Presidential Election. A win for Obama will ensure continuity and less of a shock to US economy. A win for Romney on the other hand might create a shock since he has since day 1 already labeled China as currency manipulator which is very dangerous and damaging to the relationship between the 2 countries especially when US is looking for China to cushion its economy.
Should Obama win, a possible of short-term uplift to the market before investors refocus on the fiscal cliff.
