FTSE STI closed 3,262.03, up 4.63 points or +0.14% with a total volume of 1.61b and a total value of S$697M. Total number of advance vs decline was 245 vs 174. Of the 30 component index stocks, 14 closed positive, 5 unchanged and 11 in the red. The top 5 gainer component stocks were :-
1. JSH 500USD +0.120
2. CityDev +0.110
3. UOB +0.090
4. SIA Engg +0.080
5. ComfortDelGro +0.070
The top 5 loser component stocks were :-
1. Jardine C&C -0.100
2. HongkongLand USD -0.070
3. DBS -0.040
4. SIA -0.020
5. StarHub -0.010
5. SPH -0.010
5. Olam -0.010
5. GLP -0.010
5. Capitaland -0.010
US markets closed mixed yesterday and Asian bourses were mostly higher with Nikkei +0.05%, SSE +0.47% and HSI +0.33%. STI edged up 0.14% in thin volume and value with 14 of the 30 index stocks posted gain.
Mixed economic news with positive from China HSBC flash PMI but negative from Europe and coupled with Iraq violence caused US markets to close mixed. There ain't any important economic data for the day but the Iraq violence still weighed on investors. It was a rebound from yesterday sell down.
STI managed to rebound from past days of drop due to bargain hunting of the blue chips but the upside looks pretty resistive. As usual, penny stocks dominated the day activity. While the Iraq violence is on investors' mind, end of 1H2014 windows dressing is something funds are having on their mind. Any upside in the market this week will probably be due to funds doing window dressing.
