FTSE STI closed 3,298.54, up 6.73 points or +0.20% with a total volume of 4.24b and a total value of S$1.58b. Total number of advance vs decline was 143 vs 282. Of the 30 component index stocks, 14 closed positive, 5 unchanged and 11 closed negative. The top 5 gainer component stocks were :-
1. JMH 400US$ +2.280
2. DBS +0.110
3. SGX +0.070
4. KepCorp +0.050
5. StarHub +0.050
The top 5 loser component stocks were :-
1. Jardine C&C -1.200
2. JSH 500US$ -0.310
3. CityDev -0.200
4. HKLand US$ -0.080
5. Capitaland -0.050
US markets closed mostly positive DJ hitting new high. Asian bourses were also mixed with Nikkei +0.30%, SSE -0.98% and HSI -0.03%. STI rose 0.20% in thin volume and value with 14 of the 30 index stocks registered positive closing.
ADP job number and Fed Beige book on US economy growing moderately pushed DJ to new record high. US markets hitting record high for the sake of hitting it. Events for the rest of the week are ECB meeting tonight and US unemployment data this Friday. Those 2 events might provide further positive sentiment but the underlying of the global economy with all the headwinds still the same, probably a little better than 6 months ago.
STI struggling to hit the 3,300 level as investors exercised cautious. Even the penny stocks play also toned down for the day. The much talk about MapletreeGCC IPO commenced trading today with almost 30x oversubscribed and closed $1.30, $0.10 above the IPO price.
As a whole, market still lack that positive catalysts to push further up, trying to find a footing to do consolidation.
