FTSE STI closed 3,315.67, up 10.74 points or +0.32% with a total volume of 1.52b and a total value of S$1.05b. Total number of advance vs decline was 191 vs 239. Of the 30 component index stocks, 13 closed positive, 2 unchanged and 15 in the red. The top 5 gainer component stocks were :-
1. DBS +0.210
2. SGX +0.140
3. HongkongLand USD +0.120
4. Jardine C&C +0.100
5. UOB +0.090
The top 5 loser component stocks were :-
1. JMH 400USD -0.650
2. KepCorp -0.170
3. Olam -0.160
4. SIA Engg -0.060
5. SembMar -0.050
US markets closed with a slight gain yesterday but Asian bourses were mixed for the day. Nikkei +0.56%, SSE -0.26% and HSI +0.28%. STI continued from yesterday advance add another 0.32% in higher volume and value with 12 of the 30 index stocks posted gain.
Crude oil price continued the slide but US markets still managed to edge out some gain. Asian bourses started the day in cautious mode due to the drop in oil price and ahead of Europe zone GDP data but most managed to close higher at the end of the day. France GDP beats forecast and Germany avoided recession and that brought some relief to investors about Europe economy status. With corporate earning coming to a close, investors will switch their focus to global events in particular end of the month OPEC meeting in which any action in the form of cut supply to support the falling oil price will be a welcome.
STI continued the advance with bank stocks and SingTel lifting the index. Broad market sentiment also improved as bargain hunting slowly coming back. The only negative at the moment is those oil related stocks which continued suffer selling down with the oil price falling further. Singapore will conclude its earning season today with most of the blue chips did not disappoint in their earning and that could bring some support to the index for a year end window dressing. While blue chips might be stealing the limelight but some of the mid and small cap stocks which fared quite well on their recent earning have not moved up and that could in play next.
