FTSE STI closed 3,288.13, up 0.53 points or +0.02% with a total volume of 4.26b and a total value of S$1.58b. Total number of advance vs decline was 244 vs 173. Of the 30 component index stocks, 10 closed positive, 7 unchanged and 13 closed negative. The top 5 gainer component stocks were :-
1. JMH 400US$ +0.900
2. Jardine C&C +0.210
3. UOB +0.180
4. Genting SP +0.055
5. DBS +0.040
The top 5 loser component stocks were :-
1. JSH 500US$ -0.370
2. SembMar -0.220
3. SembCorp -0.220
4. StarHub -0.110
5. SGX -0.070
5. KepCorp -0.070
US markets closed down again weighed down by news of increase in jobless claims and EU business activities weaker than expected. Asian bourses after yesterday selling off managed to rebound and closed mostly positive. Nikkei +0.68%, SSE -0.51% and HSI -0.54%. STI managed to crawl back from negative to close slight positive with a 0.02% gain as last hours of buying up plus short covering due to positive European markets and US future. Volume was moderate with thin value and 10 of the 30 index stocks posted positive closing.
It will be another events watching days or weeks ahead. US Government will commence on the negotiation of the across the board spending cut which expires in March to prevent the fiscal cliff, Italy will be having its election this Sunday in which a negative outcome will rock the EU again and Singapore will be having its Budget Day on next Monday. Corporate earning in Singapore will almost wrap up by next week and there after STI will be tracking of global events. A short-term pull back is possible given the current events are more negatively biased.
Singapore released its 4Q GDP this morning coming in better than expected resulting in FY12 GDP at +1.3% better than +1.2% expected.
