FTSE STI closed 3,347.28, up 8,65 points or +0.26% with a total volume of 1.19b and a total value of S$856M. Total number of advance vs decline was 181 vs 219. Of the 30 component index stocks, 13 closed positive, 7 unchanged and 10 in the red. The top 5 gainer component stocks were :-
1. JMH 400USD +0.400
2. JSH 500USD +0.260
3. DBS +0.130
4. UOB +0.130
5. HongkongLand USD +0.110
The top 5 loser component stocks were :-
1. SembCorp -0.040
2. OCBC -0.040
3. Kep Corp -0.030
4. SIA -0.020
5. SIA Engg -0.010
5. SembMar -0.010
5. GoldenAgri -0.010
5. GLP -0.010
5. Genting SP -0.010
US markets finally rebounded yesterday with at least 0.3% gain led by tech stocks. Asian bourses were mixed however with Nikkei +0.76%, SSE -0.29% and HSI -0.17%. STI rose 0.26% in thin volume and value with 13 of the 30 index stocks posted gain.
A rebound led by tech stocks for US markets overnight but the cautiousness and nervous prior to next week US Fed FOMC meeting still persist. Investors will be looking carefully any cue for interest rate hike and taking into consideration that US Fed should taper another US$10b from its QE again. For Asian markets, they were divided after China released its inflation data for August coming in below expectation at +2%. The concern again was the slow in momentum in its economy.
STI rebounded 0.26% but came with thin volume and value as investors taking cautious ahead of next week US Fed FOMC meeting. Upside for the moment was capped unless clear direction will be given next week by US Fed on when possible for rate hike. The downside for the time being also pretty much supported resulting in very range bound in most of the stock prices.
