FTSE STI closed 3,413.02, up 29.86 points or +0.88% with a total volume of 2.69b and a total value of S$1.80b. Total number of advance vs decline was 258 vs 139. Of the 30 component index stocks, 20 closed positive, 3 unchanged and 7 in the red. The top 5 gainer component stocks were :-
1. JMH 400US$ +2.270
2. JSH 500US$ +0.310
3. DBS +0.290
4. UOB +0.270
5. Capitaland +0.100
The top 5 loser component stocks were :-
1. Jardine C&C -0.150
2. GLP -0.050
3. CityDev -0.040
4. ComfortDelGro -0.010
5. CapitaMall -0.010
US markets closed positive with S&P500 hitting fresh high and DJ breaking the 15,000 level. Asian bourses were positive for the day taking the cue from US markets. Nikkei +0.74%, SSE +0.48% and HSI +0.86%. STI regained 3,400 level with +0.88% closing in a slightly heavier volume and value than past days. 20 of the 30 index stocks registered positive closing.
Positive sentiment from US markets overnight and China having a better than expected trade data (export rose 14.7% in April vs expectation of +10.3% and import +16.8% vs +13.9%) attracted bargain hunting and risk takers back to stock markets. Corporate earning probably coming to the tail end and hence investors will be looking for global economic data and events for cue.
Main activity for STI was the blue chips and a slight improved broad market sentiment. Penny stocks and laggard also starting to attract buyers. Too early too confirm whether the penny and laggards still have legs to move up and have to observe for few more days. Mentioned months before April STI will bottom out and the second legs up has started in May. How long can that last ? August or September tentatively as market is positive biased towards that. Note also, most analysts are very bullish on year end, keep option open that will have a muted year end. Thereafter might have another 1 or 2 more spike up in 2014 before everything start to falling apart.
