FTSE STI closed 3,248.40, down 20.73 points or -0.63% with a total volume of 3.17b and a total value of S$1.22b. Total number of advance vs decline was 241 vs 160. Of the 30 component index stocks, 7 closed positive, 2 unchanged and 21 in the red. The top 5 gainer component stocks were :-
1. Capitaland +0.020
2. Wilmar +0.020
3. CapitaMall +0.010
4. CapMallsAsia +0.010
5. HKLand US$ +0.010
5. GoldenAgr +0.010
5. StarHub +0.010
The top 5 loser component stocks were :-
1. JMH 400US$ -0.730
2. Jardine C&C -0.690
3. JSH 500US$ -0.300
4. KepCorp -0.130
5. SPH -0.100
US markets closed mixed yesterday amid the Cyprus issue. Asian bourses mostly positive today with SSE +2.66%, HSI +0.97% and Nikkei was closed for holiday. STI unfortunately failed to track regional bourses closing in the red. Total volume and value were thin for the day with 7 of the 30 index stocks managed to register positive closing.
The outcome of the Cyprus vote on bank tax despite an amendment of not taxing the small depositors was a NO. With that outcome, EU has somehow re-work on probably the bailout term with Cyprus. Though Cyprus might not get the bailout in the short-term, that should be better for Cyprus as chaos would be expected should the Government voted a yes to the bank tax. Will have to give EU and Cyprus some times to work things out. Back to US, FOMC meeting and US Government budget will be in focus.
The penny stock play in STI might have toned down, there appeared to be some theme rotation play going on. Offshore/Marine could be the next to get some interest. It is magic show time for STI, don't get left out
