FTSE STI closed 3,432.76, up 3.80 points or +0.11% with a total volume of 2.68b and a total value of S$1.32b. Total number of advance vs decline was 210 vs 205. Of the 30 component index stocks, 13 closed positive, 3 unchanged and 14 in the red. The top 5 gainer component stocks were :-
1. KepCorp +0.150
2. SGX +0.090
3. SingTel +0.070
4. ST Engg +0.060
5. SPH +0.060
The top 5 loser component stocks were :-
1. JMH 400US$ -1.350
2. Jardine C&C -0.250
3. CityDev -0.140
4. OCBC -0.070
5. StarHub -0.060
5. SIA Engg -0.060
5. HKLand US$ -0.060
US markets closed mixed and flat yesterday night recovering earlier loss after better than expected retail sales data. Asian bourses were mostly down for the day with Nikkei -0.16%, SSE -1.11% and HSI -0.26%. STI struggled with earlier gain and closed flat with a gain of 0.11% in consistent volume and value as past days. Of the 30 index stocks, xx managed to register positive closing.
Encouraging US retail sales data was offset by a report citing Chinese Government might want to lower 2013 GDP forecast to 7% from 7.5%. That news provided selling pressure to the regional markets resulting in most of them ending the day in the red. The question to ask should be does it matter if China really lowers the GDP forecast ? 7% GDP growth might not hurt China but should rest of the world starting to feel the fear ? Investors must realize that there is a shift in the global economy fundamental in which each individual nations must focus on quality and sustainable growth and not solely relying on other nations to boost its own growth. It is a case of one must look after itself first and not relying on others. This is important as this will influence how investors going to invest in the future.
