FTSE STI closed 3,253.76, up 19.41 points or +0.60% with a total volume of 2.10b and a total value of S$1.27b. Total number of advance vs decline was 200 vs 210. Of the 30 component index stocks, 21 closed positive, 3 unchanged and 6 in the red. The top 5 gainer component stocks were :-
1. Jardine C&C +1.140
2. UOB +0.480
3. OCBC +0.180
4. JSH 500US$ +0.110
5. SIA +0.100
The top 5 loser component stocks were :-
1. JMH 400US$ -0.420
2. SIA Engg -0.210
3. GLP -0.060
4. Kep Corp -0.020
5. CityDev -0.020
US markets managed to edge out some gain with S&P500 trying to cross the 1,700 level despite weakness in home sales data. Asian bourses were on a rally day with Nikkei +0.82%, SSE +1.95% and HSI +2.33%. STI continued to move higher from yesterday with a +0.60% closing with a slightly higher volume and value than past days. 21 of the 30 index stocks posted gain.
The weakness in US home sales data brought hope to investors that US Fed will not scale back on stimulus soon and China premier Li Keqiang today stressed that China GDP of 7% is its bottom line and that eased off quite some worries and concerns that China is heading for hard landing with its recent weak economic data. That brought some positive sentiment to the regional markets.
For STI the positive sentiment has spread to the blue chips, big caps and fundamental strong stocks which attracted bargain hunters while penny stocks were taking a beating as interests faded. Market is divided in such a way that short-term investors/traders are looking at sentiments while the mid to longer term investors are looking at fundamental. Needless to say, eventually will be fundamental overrules sentiments.
Lastly, congratulations to the Duke and Duchess of Cambridge of having a baby boy, the 3rd in line to the throne in England, yesterday.
