FTSE STI closed 3,383.16, up 0.87 points or +0.03% with a total volume of 2.42b and a total value of S$1.62b. Total number of advance vs decline was 262 vs 174. Of the 30 component index stocks, 14 closed positive, 5 unchanged and 11 in the red. The top 5 gainer component stocks were :-
1. JSH 500US$ +0.140
2. OCBC +0.100
3. SembMar +0.070
4. CapitaMall +0.040
5. SGX +0.040
The top 5 loser component stocks were :-
1. Jardine C&C -0.400
2. JMH 400US$ -0.080
3. ST Engg -0.060
4. Capitaland -0.050
5. SPH -0.040
5. DBS -0.040
5. CapMallsAsia -0.040
US markets closed mixed with S&P500 creating new high again led by tech stocks. Asian bourses were mostly positive with Nikkei +3.55% reopening from yesterday holiday, SSE +0.20% and HSI +0.58%. STI closed slight positive in a better than past days volume and value day. 14 of the 30 index stocks managed to register positive closing.
Couple of events today that reason for some of the markets movement. Japanese Yen again nearing the 100 level causing Nikkei to rally more than 3%. RBS cut interest rate by 25 basis points to record low of 2.75% and that caused ASX to close in the red. STI was on a pretty quite day as blue chips consolidating, some profit taking observed from high-yield stocks like S-Reits and the broader market was muted. The profit taking of S-Reits could mean two things. Funds switching out money from defensive and high-yield stocks to higher risk stocks or trying to be cautious. Too early to conclude which is which hence need to observe for movement of cyclical and higher beta stocks in the next 1 to 2 weeks.
