FTSE STI closed 3,368.18, up 6.26 points or +0.19% with a total volume of 2.07b and a total value of S$1.92b. Total number of advance vs decline was 180 vs 253. Of the 30 component index stocks, 12 closed positive, 1 unchanged and 17 closed negative. The top 5 gainer component stocks were :-
1. DBS +0.400
2. JSH 500US$ +0.150
3. SIA +0.130
4. SingTel +0.090
5. StarHub +0.090
The top 5 loser component stocks were :-
1. Jardine C&C -0.780
2. JMH 400US$ -0.560
3. CityDev -0.130
4. OCBC -0.070
5. SGX -0.060
5. HKLand US$ -0.060
5. CapitaMall -0.060
US markets closed at least +0.70% yesterday night with S&P500 hitting new high as due better than expected pending home sales data and Italy finally formed a Government. Asian bourses were mixed for the last trading day of the month. Nikkei -0.17%, SSE still close for holiday and HSI +0.69%. STI hitting fresh 5 years high with a 0.19% gain in a slightly higher volume and value than previous days. However, only 12 of the 30 index stocks managed to register positive closing.
Positive economic data and events lifted US markets to another gain day ahead of the US Fed 2-day FOMC meeting which starts today. Base on the recent economic data, US Fed should still maintain on its monetary easing stand. This Thursday most are expecting ECB to cut interest rate to new low. Whether that will happen it is anybody guess. Should not speculate on it. STI closed the month on a fresh 5 years high but that was only the index stocks that pushed the index up as the broader market was relatively weak as investors not taking up position ahead of tomorrow holiday.
May will be a watchful month as the next uptick of the market will be happening if nothing unexpected events occurring.
