FTSE STI closed 3,348.87, up 11.16 points or +0.33% with a total volume of 2.16b and a total value of S$1.38b. Total number of advance vs decline was 246 vs 154. Of the 30 component index stocks, 20 closed positive, 3 unchanged and 7 in the red. The top 5 gainer component stocks were :-
1. JMH 400US$ +0.240
2. UOB +0.170
3. Capitaland +0.070
4. CapitaMall +0.070
5. OCBC +0.070
6. SembMar +0.070
The top 5 loser component stocks were :-
1. Jardine C&C -0.980
2. JSH 500US$ -0.410
3. ST Engg -0.090
4. HKLand US$ -0.070
5. SingTel -0.020
US markets closed positive last night due to positive corporate earning and a drop in weekly jobless claims. Asian bourses were however mostly negative due to profit taking. Nikkei -0.30%, SSE -0.97% and HSI +0.65%. STI managed to stay positive and hit new 5 years high on thin volume and value. 20 of the 30 index stocks posted gain.
Couple of events for the day. Investors were initially tracking the positive closing of US markets and started brightly but after Japan reported a worst than expected CPI, coming in -0.5% (deflation) and outcome of BOJ meeting was maintained status quo (no further action despite worse than expected CPI) regional bourses started to get weak. Investors also taking cautious of tonight US 1Q2013 GDP report preferred to take profit and watch how event unfold. A better than expected US 1Q2013 GDP might provide the boost for market to move further next week. However, a weaker than expected data will be more interesting as this will test the resilient of the markets.
Singapore reported its March Industrial Output this morning coming in worse than expected -4.1% on Year vs -3.0% forecast. However, that did not cause a dent in STI as it rose to a new 5 years high (some of the S-Reits also hitting record high). On trading activities, apart from the blue chips and index stocks pushing the index higher, broader market was showing positive momentum cautiously. The odd for the next leg up is higher now as what was being mentioned market will be bottom out in April.
