FTSE STI closed 3,288.67, down 27.00 points or -0.81% with a total volume of 1.23b and a total value of S$1.03b. Total number of advance vs decline was 152 vs 318. Of the 30 component index stocks, 8 closed positive, 3 unchanged and 19 in the red. The top 5 gainer component stocks were :-
1. JMH 400USD +0.600
2. Jardine C&C +0.130
3. CityDev +0.080
4. Kep Corp +0.030
5. SIA +0.020
5. Wilmar +0.020
The top 5 loser component stocks were :-
1. DBS -0.410
2. UOB -0.290
3. Olam -0.090
4. SembMar -0.080
5. ST Engg -0.060
5. SGX -0.060
US markets closed mixed and flat last Friday and Asian were mostly in the red for the day. Nikkei -2.96%, SSE -0.15% and HSI -1.21%. STI fell 0.81% in typical volume and value with only 8 of the 30 index stocks posted gain.
There wasn't much events or news last Friday resulting in a flat closing for US markets but for Asian was a different story for the day. Japan released its 3Q GDP with a annualized contraction of 1.6% thereby entering recession. That piece of news gave a bearish sentiment to Asian markets. The first day of the SSE-HKEx connect also resulted in both markets closed in the red. However, over the weekend, there was some positive news as G20 leaders pledged to spur growth in the G20 Summit. Whether that is a "NATO" (No Action Talk Only) will remind to be seen.
For STI, it dropped 0.81% dragging down by the bank stocks causing it to close below the 3,300 level. To further add to the global negative sentiment, Singapore non-oil domestic export data for October fell 1.5% in contrast to +0.9% in the previous month. Profit taking was seen across the broad in particular the blue chips. With earning season over, marco news and events will be closely monitored that will dictate the direction of STI. A short-term consolidation should be seen for a potential year end window dressing.
