FTSE STI closed 3,270.30, up 8.53 points or +0.26% with a total volume of 3.57b and a total value of S$1.30b. Total number of advance vs decline was 242 vs 160. Of the 30 component index stocks, 8 closed negative, 3 unchanged and 19 closed positive. The top 5 gainer component stocks were :-
1. JMH 400US$ +0.680
2. Jardine C&C +0.180
3. SGX +0.090
4. SembMar +0.050
5. Genting SP +0.045
The top 5 loser component stocks were :-
1. HKLand US$ -0.160
2. StarHub -0.080
3. SIA -0.080
4. GLP -0.060
5. CityDev -0.060
US markets closed in the red yesterday as concern of EU weighed. Asian bourses going into the last trading day for Year of Dragoon closing mixed. Nikkei -1.80%, SSE +0.57% and HSI +0.16%. STI rose 0.26% in thin volume and value with 19 of the 30 index stocks posted gain.
Yesterday ECB maintained rate unchanged but concern of the recent surge in Euro putting inflation target in sight, which means if inflation rises and ECB could start to raise interest rate. That news weighed on US and European markets overnight resulting all closed in the red. This morning good news from China trade data with export for January coming in +25% yoy vs +17.5% expected and import also better than expected at +29% yoy. That piece of news caused initially negatively traded SSE, HSI and STI to reverse loss in the last trading day for the Year of Dragon. SSE will be shut for whole of next week, HSI will only reopen on 14th Feb and STI on 13th Feb.
Trading in STI was quiet as investors sideline ahead of the Chinese New Year with little willing to take the risk of loading up ahead of so many holiday as during that period nobody know what could happen from the West. Most of the stocks that were down were those who recently released their earning (whether better or miss expectation). Investors also monitoring the outcome of the EU meeting on budget. For all we know, those who take the risk today might be rewarded next week.
Wish everyone a happy Lunar New Year. Don't miss out on the last leg of bull !!!!
