FTSE STI closed 3,308.80, up 15.55 points or +0.47% with a total volume of 3.03b and a total value of S$1.21b. Total number of advance vs decline was 235 vs 176. Of the 30 component index stocks, 22 closed positive, 2 unchanged and 6 in the red. The top 5 gainer component stocks were :-
1. Jardine C&C +1.010
2. JSH 500US$ +0.640
3. JMH400US$ +0.400
4. UOB +0.320
5. KepCorp +0.100
The top 5 loser component stocks were :-
1. SingTel -0.040
2. Wilmar -0.030
3. SIA -0.010
4. GoldenAgr -0.005
5. NobleGrp -0.005
5. Genting SP -0.005
US markets closed average +1% with both DJ and S&P500 setting new high after released of Fed minutes indicating despite some members are thinking of stopping QE end of the year but in general the stance of maintain loose monetary policies until economy recover. That pleased investors. Asian bourses were mostly positive for the day with Nikkei +1.96%, SSE -0.29% and HSI +0.30%. STI finally rebound from past days of fall and closed above 3,300 level on thin volume and value. 22 of the 30 index stocks registered positive closing.
The new high created by DJ and S&P500 together with Yen edging towards 100 (USD/YEN) spread the positive sentiment to regional bourses. However, there is still a little bit of cautious as investors eagerly waiting for corporate earning. Singapore will release its FY2012 GDP tomorrow and SPH will be the first blue chip to announce its earning. Several of the S-Reits traded today hitting new high with most of the S-Reits moved up. This was clearly investors chasing for yield. With BOJ doing a similar US Fed of open-ended QE, and apart from Japan, Singapore houses the largest Reit listing in Asia. This has made it an attractive place for investors with excessive cash searching for yield in low interest rate environment. There should be some profit taking tomorrow and the important to look at the resilient of the share price. Sentiment at the moment is generally biased towards the positive side but keep option opens that should North Korea presses the button, that could be panic in the market and that will be the time to watch for support and accumulate.
