FTSE STI closed 3,318, down 7.11 points or -0.21% with a total volume of 1.09b and a total value of S$1.01b. Total number of advance vs decline was 132 vs 234. Of the 30 component index stocks, 9 closed positive, 2 unchanged and 19 in the red. The top 5 gainer component stocks were :-
1. SIA +0.210
2. SIA Engg +0.080
3. OCBC +0.050
4. SingTel +0.050
5. Capitaland +0.040
The top 5 loser component stocks were :-
1. JMH 400USD -0.410
2. JSH 500USD -0.380
3. Jardine C&C -0.250
4. DBS -0.200
5. UOB -0.130
5. KepCorp -0.130
US markets fell at least 1.5% yesterday, Asian bourses were all in the red for the day with Nikkei -0.89%, SSE -0.45% and HSI -0.90%. STI did slightly better with a slight dip of 0.21% in slightly thinner volume and value than past days. Only 9 of the 30 index stocks managed to register positive closing.
It was the oil play again with oil price continued the decline after Saudi Arabia lowered its oil supply forecast for next year to a 5 years low value. That caused a sort of panic and the sell off of energy stocks caused US markets to fall. Asian markets also reacting to that with a sea of red. There was also negative data for the day in which Japan October machinery orders drop 6.4% on month vs an expectation of 2.4% decline. As crude oil price is getting near to the US$60/barrel, this could trigger a rebound next.
STI fared slightly better than regional bourses with a slight drop despite the selling off of oil-related stocks. Broader market also fell but was pretty much well cushion due to fund managers in the process of window dressing for year end.
