FTSE STI closed 3,441.53, up 8.77 points or +0.26% with a total volume of 2.38b and a total value of S$1.48b. Total number of advance vs decline was 237 vs 181. Of the 30 component index stocks, 14 closed positive, 1 unchanged and 15 in the red. The top 5 gainer component stocks were :-
1. UOB +0.210
2. OCBC +0.130
3. HKLand US$ +0.080
4. GLP +0.060
5. SGX +0.050
The top 5 loser component stocks were :-
1. JSH 500US$ -0.190
2. SIA Engg -0.170
3. CityDev -0.110
4. DBS -0.100
5. ST Engg -0.060
US markets rose at least 0.60% last night with DJ and S&P500 hitting fresh 5-years high due to optimism. Asian bourses were mostly positive for the day with Nikkei +2.29% boosting by further weakening of yen, SSE +0.36% and HSI +0.50%. STI taking the cue from US and regional bourses rose 0.26% in consistent daily volume and value. 14 of the 30 index stocks registered positive closing.
With lacking of economic news and earning season coming to a close, markets were driven by optimism and sentiment, in short following mentality. The main activity for STI was again dominated by selective blue chips dictating the direction of STI and the broader market again showing mixed. Those with recent strong earning moved up while those who were not stayed muted. It is a matter of time when the party will end but meanwhile bias is towards the upside till August and September.
