FTSE STI closed 3,149.76, up 15.40 points or +0.49% with a total volume of 3.13b and a total value of S$793M. Total number of advance vs decline was 229 vs 193. Of the 30 component index stocks, 20 closed positive, 6 unchanged and 4 in the red. The top 5 gainer component stocks were :-
1. Jardine C&C +0.860
2. JMH 400US$ +0.420
3. UOB +0.170
4. DBS +0.120
5. Kep Corp +0.110
The 4 loser component stocks were :-
1. CapMallsAsia -0.020
2. JSH 500US$ -0.010
3. Genting SP -0.005
4. ComfortDelGro -0.005
US markets hit another record high after upbeat data on weekly jobless claims. Asian bourses were mostly positive despite some profit taking. Nikkei +0.03%, SSE +1.36% and HSI +0.27%. STI rose 0.49% in those heavier volume but thin value day with 20 of the 30 index stocks posted gain.
The continuation of positive economic data providing the bullish sentiment for stock markets to rally and that to the investors fully justify US Fed's action to start tapering next month. Asian bourses by now should have gotten over the concern of the US Fed tapering as investors starting to coming back to bargain hunt. However, the fund managers still on holiday has yet to action.
STI up on heavier volume but thin value as fund managers still away on holiday while traders focused on the penny stocks. It will be no surprise early next week should have some pull back due to short-term trader taking profit as most of them referencing the market movement with TA will feel that the upwards movement lack of high volume will not be able to sustain. That is TA view and not representing the bigger picture. However, the action by those TA traders can help investors missing the boat some 2 weeks ago to bargain hunt.
