FTSE STI closed 3,313.73, up 25.06 points or +0.76% with a total volume of 1.28b and a total value of S$1.01b. Total number of advance vs decline was 235 vs 181. Of the 30 component index stocks, 24 closed positive, 1 unchanged and 5 in the red. The top 5 gainer component stocks were :-
1. Jardine C&C +1.020
2. JMH 400USD +0.790
3. JSH 500USD +0.250
4. UOB +0.220
5. CityDev +0.200
The 5 loser component stocks were :-
1. HongkongLand USD -0.090
2. Noble -0.025
3. SGX -0.020
4. ThaiBev -0.010
5. Capitaland -0.010
US markets closed mixed yesterday, mostly positive and Asian markets were mixed for the day. Nikkei +2.18%, SSE -0.67% and HSI -1.13%. STI recovered part of yesterday loss with a +0.76% closing in those typical volume and value with 24 of the 30 index stocks posted gain.
US markets were mixed yesterday reacting to the news that Japan has again entered recession but both DJ and S&P500 managed to record yet another record closing. For Asia, Nikkei recovered some of yesterday loss as investors anticipating Japanese PM Shino Abe to call for a snap poll next and also waiting for what measures the Government will dish out to recover its economy. Both SSE and HSI fell for the second day of the SSE-HKEx connect. The drop was more of profit taking as both markets were practically played up prior to the official starting of the SSE-HKEx connect. For rest of the regional markets, most of them were just ranging in consolidation mode.
STI managed to recover part of yesterday loss thanks to the bank and Jardine group of stocks rebounded from yesterday sell off. It has been happening for past days that STI swinging between gain and loss was mainly due to those selective stocks movement. With that, using STI as a reference for broader market strength or direction is no longer valid.
