FTSE STI closed 3,296.57, up 11.96 points or +0.36% with a total volume of 2.64b and a total value of S$1.12b. Total number of advance vs decline was 237 vs 155. Of the 30 component index stocks, 18 closed positive, 5 unchanged and 7 in the red. The top 5 gainer component stocks were :-
1. HKLand US$ +0.120
2. OCBC +0.110
3. CityDev +0.090
4. UOB +0.090
5. KepCorp +0.060
5. SIA +0.060
The top 5 loser component stocks were :-
1. JMH 400US$ -1.260
2. JSH 500US$ -0.480
3. Jardine C&C -0.220
4. SembMar -0.040
5. SembCorp -0.030
5. ST Engg -0.030
US markets closed positive with at least 0.3% gain recovering from earlier loss. Asian bourses were mostly positive for the day with Nikkei 0%, SSE +0.64% and HSI +0.70%. STI closed +0.36% in thin volume and value day with xx of the 30 index stocks registered positive closing.
Investors temporary shrugged off poor employment data last Friday and focus on earning season with Alcoa reported a missed expectation sales result after the bell. China released its March CPI coming in at +2.1% coming off the +3.2% in February, putting some pressure off inflation at the moment. STI though was positive but the trading activity was pretty much thin as most of the investors staying sideline to watch and wait for corporate earning. Corporate earning might be missing analysts' expectation but question should be asked is the expectation they put really justifiable ? A poor earning season might suggest more selling off but that should be the time to look out for market bottoming. Stock market is a forward indicator of the economy and not moving based on already past events.
