FTSE STI closed 3,443.77, up 10.99 points or +0.32% with a total volume of 2.27b and a total value of S$1.51b. Total number of advance vs decline was 247 vs 174. Of the 30 component index stocks, 15 closed positive, 5 unchanged and 10 in the red. The top 5 gainer component stocks were :-
1. JSH 500US$ +0.320
2. DBS +0.200
3. SIA +0.130
4. KepCorp +0.120
5. CityDev +0.070
5. ST Engg +0.070
The top 5 loser component stocks were :-
1. Jardine C&C -1.560
2. UOB -0.140
3. StarHub -0.100
4. HKLand US$ -0.100
5. JMH 400US$ -0.050
US markets closed slight negative due to profit taking despite a better than expected weekly jobless claims data falling to new 5-year low. Asian bourses after yesterday profit taking were mostly up for the day. Nikkei +2.93%, SSE +0.62% and HSI +0.47%. STI again managed to close positive with 0.32% gain hitting another fresh 5-year high in roughly the same volume and value as yesterday. xx of the 30 index stocks managed to post positive closing.
Not much of economic news or events, markets were in general buy on dip as investors now facing global really low interest rate rushing in to chase yield. Finally Yen break the 100 level vs USD yesterday night and that triggered a rally of more than 2% for Nikkei. STI again supporting well with the blue chips with broader market in a mixed of profit taking and bargain hunting for those better fundamental stocks. 19th May might be a day to look out as US Government will be facing with the postponed debt ceiling issue. Markets might pull back prior to that events and depending on what the US Government resolution to that. Either they finally willing to raise the debt ceiling or again kicking the can down the road. Any pull back will have to watch for support level and should the support levels able to hold, the 2nd leg up will resume after that.
