FTSE STI closed 3,065.74, down 4.21 points or -0.14% with a total volume of 1.84b and a total value of S$1.00b. Total number of advance vs decline was 139 vs 286. Of the 30 component index stocks, 7 closed positive, 5 unchanged and 18 closed negative. The top 5 gainer component stocks were :-
1. JMH 400US$ +1.950
2. JSH 500US$ +0.930
3. UOB +0.100
4. OCBC +0.030
5. CapMallsAsia +0.020
5. SIA Engg +0.020
The top 5 loser component stocks were :-
1. Jardine C&C -0.870
2. SembMar -0.100
3. SembCorp -0.100
4. DBS -0.070
5. SGX -0.050
5. KepCorp -0.050
US markets closed flat and mixed last Friday as investors starting to concern on the no progress on the US fiscal cliff talk between the 2 political parties. Over the weekend, China released its official November PMI data coming in at 50.4, 7-month high signaling China economy is gaining momentum in rebound. Asian bourses initially traded in the positive region reacting to the China data but soon eased gain and closed mixed. Nikkei +0.13%, SSE -1.03% and HSI -1.19%. STI failed to hold on to gain and closed -0.14% in moderate volume. Only 7 of the 30 index stocks managed to close positive.
The positive sentiment on China economy recovery faded as US fiscal cliff remained the main focus for investors given that US has less than a month to resolve the issue as global markets started the last trading month for 2012. For STI, US fiscal cliff worries weighed on and post month end window dressing effect kicked in when profit taking and staying cautious are on most investors mind.
It is the month to watch for any significant buy on dip opportunities and keep a look out for capitulation.
