FTSE STI closed 3,277.53, up 21.70 points or +0.67% with a total volume of 2.08b and a total value of S$1.28b. Total number of advance vs decline was 308 vs 137. Of the 30 component index stocks, 23 closed positive, 4 unchanged and 3 in the red. The top 5 gainer component stocks were :-
1. CityDev +0.460
2. UOB +0.420
3. Jardine C&C +0.210
4. JSH 500USD +0.100
5. Keppel Corp +0.080
The 3 loser component stocks were :-
1. JMH 400USD -0.040
2. HongkongLand USD -0.040
3. SIA Engineering -0.030
US markets closed positive yesterday but Asian bourses were mixed with Nikkei -0.85%, SSE +0.34% and HSI -0.13%. STI managed to be on the positive side with 0.67% gain in a heavier volume and value than yesterday. 23 of the 30 index stocks registered positive closing.
The lack of economic data caused investors to focus on corporate earning, probably in anticipation of firm earning. While focus was on corporate earning, the Ukraine issue is not something to be ignored as US according to report is preparing new round of sanctions against Russia. With these sanctions, Russia economic could dip into recession in the short-term and Europe could be impact by it. While at this junction nothing is confirmed but the possibility of that happening is there.
STI after yesterday flat performing fared much better today as investors came back in bargain hunt after positive lead from US markets yesterday and also some positive earning (from S-Reits) yesterday. The micro-penny or punters stocks were seen rebounding today but that could be sentiment driven as punters doing it for quick profit. The underlying now given that earning season is underway is to focus closely on those better fundamental stocks and seize any bargain opportunity.
