FTSE STI closed 3,314.77, up 19.94 points or +0.61% with a total volume of 1.57b and a total value of S$964M. Total number of advance vs decline was 267 vs 182. Of the 30 component index stocks, 20 closed positive, 4 unchanged and 6 in the red. The top 5 gainer component stocks were :-
1. JMH 400USD +1.650
2. JSH 500USD +0.720
3. Jardine C&C +0.570
4. HongkongLand USD +0.230
5. CityDev +0.220
The top 5 loser component stocks were :-
1. UOB -0.160
2. SembMar -0.030
3. SembCorp -0.030
4. DBS -0.020
5. ComfortDelGro -0.020
US markets rose again with average 0.4% gain yesterday. Asian bourses were higher for the day with Nikkei +0.02%, SSE +0.92% and HSI +0.62%. STI rose 0.61% in thin volume and value, 20 of the 30 index stocks posted gain.
The continuous easing of geopolitical issues led global markets to continue the rebound as bargain hunting slowly return to the markets. Despite the rebound, most still cautious as seen from the thin volume as nobody can tell when the rebound will eventually come to a halt.
STI finally rebounded after past days of selling down. This could be due to short-covering for the weekend and selective bargain hunting. The small and mid cap stocks were obviously consolidating with an underlying for moving upwards. Corporate earning will practically come to an end after this week and focus should be on those fundamental strong small and mid cap stocks to accumulate on weakness.
