FTSE STI closed 3,234.35, up 21.09 points or +0.66% with a total volume of 1.93b and a total value of S$1.01b. Total number of advance vs decline was 225 vs 172. Of the 30 component index stocks, 23 closed positive, 3 unchanged and 4 in the red. The top 5 gainer component stocks were :-
1. JSH 500US$ +0.200
2. UOB +0.190
3. DBS +0.130
4. Jardine C&C +0.130
5. SingTel +0.100
5. ST Engg +0.100
The 4 loser component stocks were :-
1. JMH 400US$ -0.650
2. HKLand US$ -0.050
3. SPH -0.020
4. ComfortDelGro -0.010
US markets closed mixed last Friday with weakness in technology stocks after several of the big tech companies' earning missed expectation. Asian bourses swinging between positive and negative but managed to close mostly higher. Nikkei +0.47%, SSE +0.61% and HSI +0.25%. STI slightly performing better than regional bourses with a +0.66% closing in another of those thin volume and value day. Of the 30 index stocks, 23 posted gain.
Japan LDP won the upper house election to put a smooth path in PM Shinzo Abe's reforming of Japan economy. The G-20 meeting over the weekend also saw G-20 leaders pledging to create growth and jobs in global economies. Other than that pretty much was focus on corporates' earnings and economic data especially those from US and China.
Unlike past days in which STI was in high volume, today saw relatively thin volume as penny stocks punting took a break for the break. That should not be a surprise as focusing on fundamental is more suitable and reliable than punting for a quick profit. Several of the fundamental solid stock prices were showing resilient strength despite reports that funds outflow last week from emerging market. From the past history, funds that flew out of emerging markets in particular Asia will only come back later as Asia is the region which nations having surplus and not in high debt, a solid fundamental in which nations in the West does not have.
