FTSE STI closed 3,213.79, down 14.59 points or -0.45% with a total volume of 1.82b and a total value of S$1.18b. Total number of advance vs decline was 239 vs 146. Of the 30 component index stocks, 14 closed positive, 2 unchanged and 14 in the red. The top 5 gainer component stocks were :-
1. Jardine C&C +0.290
2. CityDev +0.090
3. SIA Engg +0.090
4. DBS +0.070
5. JSH 500US$ +0.070
The top 5 loser component stocks were :-
1. UOB -0.230
2. SIA -0.200
3. HKLand US$ -0.180
4. SingTel -0.080
5. SGX -0.080
US markets closed average +0.80% yesterday after inflation data indicating US economy is firm. Asian bourses were mixed for the day with Nikkei +1.83%, SSE -0.62% and HSI -1.13%. STI after 2 days of gain closed -0.49% in another thin volume and value day. 14 of the 30 index stocks managed to regiser positive closing.
The outcome of the US Fed FOMC meeting will be out today. Don't get overly optimistic nor pessimistic about it as there is nothing except status quo from US Fed. Markets might have anticipating of good news from US Fed at least to calm the markets but what it is needed is the investors themselves to calm it out themselves for the over-reaction in the past weeks.
STI after 2 days of gain investors were taking profit and getting cautious of the outcome of FOMC meeting. Might have a drop tomorrow but should not be a concern given that US Fed will remain status quo. What to look forwards to is next week end of the month 1H2013 window dressing. That is something investors in particular short-term investors/traders need to plan it out strategically correct.
