FTSE STI closed 3,227.23, up 12.14 points or +0.38% with a total volume of 1.23b and a total value of S$1.36b. Total number of advance vs decline was 189 vs 224. Of the 30 component index stocks, 16 closed positive, 1 unchanged and 13 in the red. The top 5 gainer component stocks were :-
1. SembMar +0.270
2. KepCorp +0.240
3. SGX +0.150
4. CityDev +0.140
5. UOB +0.130
The top 5 loser component stocks were :-
1. SIA -0.280
2. JMH 400USD -0.130
3. DBS -0.090
4. Jardine C&C -0.060
5. SIA Engg -0.040
US markets ended in the red again after wild swing. Asian bourses were mostly positive for the day with Nikkei +0.38%, SSE +1.28% and HSI -0.37%. STI reversed losses and closed +0.38% in typical daily volume and value with 16 of the 30 index stocks posted gain.
Continue decline in oil price and Russian's Ruble plunged caused nervous in the market which US markets after rising more than 1% all closed in the red with at least 0.6% drop. Asian bourses though mostly closed positive but have to endure volatile session too. No concrete rebound on oil price yet, Russian's Ruble despite Russian Central Bank hike interest rate by 17% day ago plunged (probably due to the result of sanctions for the Ukraine issue) and that caused some fear in the market as the effect of fallout of Russia is not something not to taken lightly. Investors will also be looking at tonight outcome of US Fed FOMC meeting. What's to watch out for will be comment by Fed on interest rate.
STI opened positive but sink into the red with the index touched 3,200 level before an intra-day rebound kicked in. The rebound was led by SingTel, SembMar, SembCorp and KepCorp while bank stocks still mixed. With oil price still in declining mode, the strong rebound from SembMar, SembCorp and KepCorp will be something interesting to look into. Possibility could be due to short-covering, funds switching out from other blue chips (bank stocks in particular) and inject to those beaten down oil-related stocks. Should the sharp rebound of the oil-related stocks was not due to short-covering but money pouring in, oil price will be next to rebound.
