FTSE STI closed 3,325.81, up 5.97 points or +0.18% with a total volume of 1.20b and a total value of S$1.11b. Total number of advance vs decline was 247 vs 172. Of the 30 component index stocks, 17 closed positive, 5 unchanged and 8 in the red. The top 5 gainer component stocks were :-
1. UOB +0.290
2. SIA +0.240
3. KepCorp +0.150
4. DBS +0.140
5. Sembcorp +0.140
The top 5 loser component stocks were :-
1. JSH 500USD -0.800
2. Jardine C&C -0.670
3. JMH 400USD -0.600
4. HongkongLand USD -0.090
5. GLP -0.050
US markets recovered from more than 1% drop initially and closed mixed. Asian bourses were mixed for the day but mostly positive after yesterday selling down. Nikkei -2.25%, SSE +2.96% and HSI +0.16%. STI edged out a gain of 0.18% in typical daily volume and value with 17 of the 30 index stocks posted gain.
The big drop from SSE yesterday and continued decline of oil price caused US markets to fell more than 1% on open but managed to recover those drop and closed mixed, DJ and S&P500 flat while Nasdaq +0.54%. For the day, SSE continued its wild swing managed to recover half of yesterday drop. China also announced its November inflation coming in below expectation at 1.4%. The cool down of inflation could be a good news to China as it has more room to unveil more stimulus and interest rate cut to boost its economic growth. On the other hand oil price continued the decline moving nearer to the US$60/barrel level.
STI edged up 0.18% and together with yesterday gain, pretty much recovered what was loss on Monday. Though, oil price still in the decline, oil-related stocks managed to stage rebound for the day probably due to short-covering and bargain hunting. More positive upside should be on the way for rest of this week as fund managers doing their part in window dressing their year end portfolio.
