FTSE STI closed 3,321.77, up 4.18 points or +0.13% with a total volume of 3.21b and a total value of S$1.31b. Total number of advance vs decline was 209 vs 195. Of the 30 component index stocks, 11 closed positive, 5 unchanged and 14 in the red. The top 5 gainer component stocks were :-
1. UOB +0.380
2. CityDev +0.100
3. SPH +0.100
4. SIA +0.080
5. StarHub +0.070
The top 5 loser component stocks were :-
1. KepCorp -0.100
2. Jardine C&C -0.100
3. HKLand US$ -0.090
4. JMH 400US$ -0.080
5. ST Engg -0.050
US markets closed average +0.5% yesterday with S&P500 hitting another new high since 2007. Asian bourses were mixed for the day. Nikkei +2.99%, SSE -0.11% and HSI -0.14%. STI was one of the several regional bourses that ended with positive, a new 5 year high but in thin volume and value day. 11 of the 30 index stocks managed to register positive closing.
No particular bad news was probably one of the reason blue chips moved higher prior to their earning release in 1.5 to 2 weeks time. For STI though index was at new 5 year high but the board market was pretty muted. However, a sector of the stocks, S-Reit has been gaining strength moving up prior to their earning. With global low interest rate environment, even though dividend yield of the S-Reits was at compressed level, their yield still attractive as compared to bank saving rate. Investors snapping up before earning and dividend declaration. As the focus is now on blue chips ahead of their earning, penny stocks were getting the cold as investors selling off and rotate the money to the blue chips.
