FTSE STI closed 3,173.32, up 32.39 points or +1.03% with a total volume of 1.95b and a total value of S$1.11b. Total number of advance vs decline was 283 vs 100. Of the 30 component index stocks, 22 closed positive, 2 unchanged and 6 in the red. The top 5 gainer component stocks were :-
1. UOB +0.490
2. CityDev +0.290
3. DBS +0.220
4. HKLand US$ +0.220
5. GLP +0.120
The top 5 loser component stocks were :-
1. Jardine C&C -1.250
2. JSH 500US$ -0.510
3. JMH 400US$ -0.290
4. ST Engg -0.050
5. SIA -0.010
US markets closed at least 0.4% higher after surging more than 1% in the earlier day due to better than expected ISM data. Asian bourses taking the cue were mostly positive for the day. Nikkei +1.78%, SSE +0.57% and HSI reopened from yesterday holiday -0.70%. STI recovered from yesterday drop and closed +1.03% in thin volume and value day. 22 of the 30 index stocks posted positive closing.
US ISM data indicating expansion recovering from previous month of contraction and EU better than expected manufacturing data offsetting a rather weak China PMI got the lift for global stock markets. Fund managers were also sizing up portfolio for the coming earning season.
STI recovered from yesterday selling off due to the drag by property and bank stocks reacting to the latest property measures from MAS with a relatively broad market buying in thin volume and value day. Investors are sizing up for the coming earning season without a doubt. The recent sharp selling off has no doubt created a relatively attractive price level in term of company fundamental.
