FTSE STI closed 3,432.78, up 19.76 points or +0.58% with a total volume of 2.65b and a total value of S$1.40b. Total number of advance vs decline was 211 vs 209. Of the 30 component index stocks, 20 closed positive, 3 unchanged and 7 in the red. The top 5 gainer component stocks were :-
1. JMH 400US$ +0.860
2. UOB +0.200
3. KepCorp +0.120
4. SingTel +0.080
5. OCBC +0.070
The top 5 loser component stocks were :-
1. SembCorp -0.030
2. Genting SP -0.030
3. ST Engg -0.020
4. NobleGrp -0.020
5. CapMallsAsia -0.020
US markets again closed positive with at least 0.3% gain, DJ and S&P500 hitting new high. Asian bourses however were only profit taking mode with most of them closed in the red. Nikkei -0.66%, SSE -0.59% and HSI -0.14%. STI was on a different track closing fresh 5-year high with a 0.58% gain in a slight heavier volume than past days. 20 of the 30 index stocks managed to register positive closing.
Not much of economic data for the day except for China inflation data for the month of April coming in more than expected at +2.4% vs +2.1%. That caused profit taking for regional bourses. STI fared better than regional bourses with blue chips continued to move up. Penny and laggard stocks took a rest for the day with profit taking. Whether those can sustain further upside will depend on the next few days whether their recent support could hold or not. Profit taking doesn't mean end of the road for the upside, lot of psychological play is at the stocks now. Read the market and don't let the market read you.
