FTSE STI closed 3,288.52, down 14.50 points or -0.44% with a total volume of 5.23b and a total value of S$1.35b. Total number of advance vs decline was 153 vs 260. Of the 30 component index stocks, 9 closed positive, 4 unchanged and 17 in the red. The top 5 gainer component stocks were :-
1. Jardine C&C +0.820
2. CityDev +0.070
3. SIA Engg +0.040
4. SingTel +0.030
5. SIA +0.020
The top 5 loser component stocks were :-
1. JMH 400US$ -0.900
2. JSH 500US$ -0.510
3. UOB -0.220
4. DBS -0.140
5. KepCorp -0.130
US markets closed mostly down despite DJ closing at another record high. Asian bourses were all in the red with Nikkei -0.61%, SSE -0.99% and HSI -1.46%. STI gave back all of yesterday gain closing -0.44% in another thin volume and value day. 9 of the 30 index stocks managed to register positive closing.
Profit taking and lacking of positive catalysts were the reason for the selling down. With most global markets at multi-years high, there are lot of rooms for them to pull back and the pulling back is none other than consolidation purpose. As mentioned before, from March till June, it is the period in which market will hit a bottom, consolidate before moving up again. Monitor for stock bottom and slowly accumulate on weakness is the key now.
