FTSE STI closed 3,325.50, up 1.41 points or +0.04% with a total volume of 1.60b and a total value of S$998M. Total number of advance vs decline was 250 vs 199. Of the 30 component index stocks, 13 closed positive, 6 unchanged and 11 in the red. The top 5 gainer component stocks were :-
1. JMH 400USD +0.800
2. DBS +0.120
3. JSH 500USD +0.090
4. CityDev +0.080
5. HongkongLand USD +0.050
5. SIA +0.050
The top 5 loser component stocks were :-
1. Jardine C&C -0.290
2. SembCorp -0.060
3. SingTel -0.040
4. ComfortDelGro -0.040
5. SIA Engg -0.030
5. OCBC -0.030
US markets closed positive again with S&P500 hitting another record high. Asian bourses were mixed for the day with Nikkei -0.30%, SSE +0.46% and HSI +0.47%. STI inched up 0.04% in thin volume and value with 13 of the 30 index stocks posted gain.
Positive weekly jobless claims data coupled with optimistic of the Jackson Hole meeting sent US markets to another positive closing with S&P500 hitting another record close, nearing the 2,000 level. The expectation of interest rate hike might not be so soon lure investors back to US markets with most largely ignoring the macro fundamental of it. Sentiment might be positive but the next fall will be hard.
STI edged up slightly ahead of the Jackson Hole meeting tonight. Most of the stocks were seen hitting resistance level for the day. Should it fail to break, a pull back will happen next week. The pull back should be seen as consolidation phase and stock prices are in range bound mode between support and resistance level.
