FTSE STI closed 3,207.85, up 2.61 points or +0.08% with a total volume of 3.05b and a total value of S$891M. Total number of advance vs decline was xxx vs xxx. Of the 30 component index stocks, 13 closed positive, 5 unchanged and 12 in the red. The top 5 gainer component stocks were :-
1. JMH 400US$ +0.520
2. Jardine C&C +0.270
3. Capitaland +0.030
4. DBS +0.020
5. HKLand US$ +0.020
5. ST Engg +0.020
The top 5 loser component stocks were :-
1. JSH 500US$ -0.370
2. CityDev -0.070
3. UOB -0.040
4. SGX -0.030
5. SIA -0.020
5. SembMar -0.020
US markets closed positive with at least 0.3% gain allowing S&P500 to hit another record high. Taking the cue, Asian bourses were mostly higher for the day with Nikkei +2.19%, SSE +0.04% and HSI +0.48%. STI managed to stay positive for the day but off high closing +0.08% in another of those moderate volume but value day. 13 of the 30 index stocks registered positive closing.
Positive corporate earning from US companies and investing betting that US Fed will not be tapering soonest due to the recent US Government saga helped push US stocks higher. That sentiment spread to Asian bourses but not without cautious as most closed off their respective dat high.
STI was having a positive day but that limited to blue chips and most of the investors are shunning the penny stocks due to the recent designated trio saga. Much confidence need to be restored for those penny stocks at the moment. Fundamental wise, the undergoing earning season has so far not suggesting any deterioration which is important as that will provide the much support needed for the market. As a whole, regardless of blue chips or penny stocks, one need to look at the fundamental to justify whether the current price is cheap or expensive.
