FTSE STI closed 3,291.46, down 0.12 points or -0.00% with a total volume of 2.26b and a total value of S$1.48b. Total number of advance vs decline was 163 vs 226. Of the 30 component index stocks, 10 closed positive, 3 unchanged and 17 in the red. The top 5 gainer component stocks were :-
1. UOB +0.380
2. JSH 500US$ +0.120
3. SGX +0.090
4. OCBC +0.080
5. HKLand US$ +0.080
The top 5 loser component stocks were :-
1. Jardine C&C -0.230
2. CityDev -0.200
3. SPH -0.090
4. SembCorp -0.070
5. KepCorp -0.060
US markets closed positive with at least 1% gain recovering half of what was lost the previous day. Asian bourses were however mixed with Nikkei +1.22%, SSE -0.05% and HSI -0.47%. STI gave up earlier gain and close slight negative in thin volume and value day. 10 of the 30 index stocks managed to register positive closing.
The Boston bomb blast still under investigation with possible act of terror as an intention, investors have calmed a bit after that knee-jerk sell off the yesterday but worries still remain. Couple of events, IMF cut global growth forecast after China lower than expected 1Q GDP and ongoing corporate earning at the moment providing mixed signals.
Singapore reported its March non-oil export data and coming in better than expected with -4.8% on Year vs -6.1% expected. That provided some temporary relief on Singapore economy. Corporate earning from Singapore companies so far still mixed and that pretty much result in uncertainties for investors. The negative opening from European bourses and US future caused investors to sell off taking profit for the day, result in STI failing to hold onto its gain. One notable sign is Offshore/Marine and Commodity stocks were under selling pressure taking cue from falling oil and commodity prices. Other than that, the defensive stocks were providing the resilient factor at the moment. The mixed signal be it from global or domestic events have led to investors being cautious and making the market lacking of catalysts to move up, thereby range bound.
