FTSE STI closed 3,361.92, up 13.05 points or +0.39% with a total volume of 2.02b and a total value of S$1.23b. Total number of advance vs decline was 198 vs 232. Of the 30 component index stocks, 18 closed positive, 1 unchanged and 11 in the red. The top 5 gainer component stocks were :-
1. Jardine C&C +0.340
2. UOB +0.310
3. DBS +0.140
4. JSH 500US$ +0.140
5. Capitaland +0.100
5. SIA Engg +0.100
The top 5 loser component stocks were :-
1. JMH 400US$ -0.270
2. SembCorp -0.190
3. KepCorp -0.150
4. OCBC -0.110
5. SembMar -0.060
US markets closed mixed last Friday after 1Q2013 GDP came in at +2.5% vs +3.0% expected. Asian bourses were on a quiet day as both Nikkei and SSE were closed for holiday. HSI +0.15% and STI continued to advance to hit new 5 years high in another thin volume and value day. 18 of the 30 index stocks managed to register positive closing.
US 1Q GDP showed US economy continued to grow. Does that matter when missing the expectation of +3.0% ? Questions have to ask do those expectations factor in the impact of the fiscal cliff and squestration ? If they did not factor in or too complacent about the impact then what's there to compare ?
STI was up for the day despite 1/5 of the component stocks went XD today, something for you to ponder about. However, majority of the investors were sideline due to the short trading week and awaiting for economic data from China later this week. The broader market were muted. On a short to mid-term outlook, market is biased towards the upside mainly due to resilient in corporate earning and lack of new news/events that could rock the market.
