FTSE STI closed 3,337.71, up 15.00 points or +0.45% with a total volume of 2.14b and a total value of S$1.63b. Total number of advance vs decline was 220 vs 175. Of the 30 component index stocks, 19 closed positive, 2 unchanged and 9 in the red. The top 5 gainer component stocks were :-
1. UOB +0.310
2. DBS +0.200
3. SIA +0.120
4. Capitaland +0.090
5. HKLand US$ +0.080
The top 5 loser component stocks were :-
1. JMH 400US$ -1.770
2. Jardine C&C -0.880
3. JSH 500US$ -0.600
4. KepCorp -0.100
5. SIA Engg -0.040
US markets closed slight down yesterday after a more than expected drop in Durable Goods order against some positive corporate earning. Asian bourses were mostly positive for the day with Nikkei +0.60%, SSE -0.86% and HSI +0.98%. STI closed positive with a 0.45% in another thin volume and value day. 19 of the 30 index stocks managed to register positive closing.
It was bull and bear tussling for the markets with bull trying to move up due to positive corporate earning but was packed back by the bear due to some weak economic data and corporate earning. There was also talk of possible ECB might lower interest rate next and if that happens that could trigger another "rally" due to Central Bank action. With corporate earning still coming in, US will be reporting its 1Q2013 GDP tomorrow and that should be closely watched.
STI closed at a 5 years high with the bull trying to breakout and the bear resisting it. Who will win will eventually depend on how the index stocks play out. Broader market starting to show some positive momentum especially from the penny stocks, defensive and high-yield stocks. As mentioned before, market will be bottom out in April and we are just days away from end of April.
