FTSE STI closed 3,099.93, up 13.29 points or +0.43% with a total volume of 1.99b and a total value of S$1.12b. Total number of advance vs decline was 264 vs 151. Of the 30 component index stocks, 21 closed positive, 4 unchanged and 5 in the red. The top 5 gainer component stocks were :-
1. Jardine C&C +1.420
2. JMH 400US$ +1.060
3. JSH 500US$ +0.52
4. UOB +0.200
5. DBS +0.070
5. OCBC +0.070
The 5 loser component stocks were :-
1. GLP -0.070
2. NobleGrp -0.040
3. Genting SP -0.040
4. SIA -0.010
5. ComfortDelGro -0.005
US markets rebounded yesterday with average +0.6% closing despite some weak economic data. Asian bourses taking the cue were mostly higher for the day. Nikkei +2.88%, SSE -1.17% and HSI +0.78%. STI closed +0.43% in moderate volume and value and 21 of the 30 index stocks registered positive closing.
Investors were attributing the recent weak US economic data due to the bad weather and as such bargain hunt up again. For Asia, except for China who still feeling the effect of weak flash PMI data were mostly higher as G20 meeting starting this weekend in Australia in which G20 leaders should be addressing Central Banks and its stimulus program which created the recent volatility in the stock markets.
Taking the lead from US, STI was back to gain again and just closed below the 3,100 level. It was also Singapore Government budget day in which investors will be looking at what measures will the Government be rolling out especially those targeting businesses to help reduce the issue faced with rising cost and labour crunch. S-Reits have been quietly moving up for past days now despite all those negative analysis recently. In short, those analysts with those negative analysis were wrong and this is of no surprise at all. After all, since when they have the ability to make correct analysis ?
