FTSE STI closed 3,295.77, up 7.63 points or +0.23% with a total volume of 4.88b and a total value of S$1.52b. Total number of advance vs decline was was 237 vs 207. Of the 30 component index stocks, 17 closed positive, 4 unchanged and 9 closed negative. The top 5 gainer component stocks were :-
1. JSH 500US$ +0.230
2. ST Engg +0.140
3. SembCorp +0.060
4. DBS +0.050
5. SingTel +0.050
The top 5 loser component stocks were :-
1. Jardine C&C -0.350
2. JMH 400US$ -0.290
3. CityDev -0.070
4. KepCorp -0.040
5. Genting SP -0.030
US markets were closed yesterday and as such Asian bourses lacking of cue were mixed for the day. Nikkei -0.31%, SSE -1.60% and HSI -1.02%. STI outperformed regional bourses with a gain of 0.23% in moderate volume and value. 17 of the 30 index stocks posted positive closing.
The weak CNY retail sales data for China set the tone for Asian bourses today as investors awaiting or looking for catalysts to take the next move. As usual, penny stock play dominated STI activities as the blue chips undergoing consolidation stage. F&N has been halted as TCC has managed to acquire more than 90% of the stock and with a public free float of less than 10%, F&N is on the way to get delisted. Since F&N is one of the index component stocks, it will need a replacement for it once it get delisted. The candidate to replace F&N should be one of the five from reserve lists (HPH Trust, KepLand, Ascendasreit, UOL and CapitaComm). As such, these 5 stocks could be attracting fund mangers buying into it in anticipation of them be the index stock. The funds especially those STI ETF have no choice but to take up position for the next index stock.
Another news that take spotlight today for STI was Singapore and Malaysia set a target for high-speed rail link in 2020 and that should attract attention on developer and construction stocks.
