FTSE STI closed 3,304.82, up 1.43 points or +0.04% with a total volume of 1.17b and a total value of S$1.00b. Total number of advance vs decline was 167 vs 230. Of the 30 component index stocks, 14 closed positive, 6 unchanged and 10 in the red. The top 5 gainer component stocks were :-
1. Jardine C&C +0.390
2. DBS +0.070
3. SGX +0.060
4. CityDev +0.040
5. ST Engg +0.040
The top 5 loser component stocks were :-
1. JMH 400USD -0.390
2. Kepcorp -0.180
3. JSH 500USD -0.150
4. SIA Engg -0.050
5. OCBC -0.030
US markets rose yesterday and Asian bourses taking the cue were positive for the day. Nikkei +0.94%, SSE +4.35% and HSI +1.72%. STI was however flat with thinner daily volume and value than past days. 14 of the 30 index stocks posted gain.
DJ and S&P500 again closed at new record high after Fed;s Beige Book revealed US economy continues to expand despite ADP data came in slight below expectation ahead of this Friday non-farm payroll data. Asian bourses especially Nikki and SSE continued their bull run backed by probably more stimulus is on the way to the 2 nations.
STI though managed to close positive but pretty much was not participate in the bullish sentiment around the region as short-term traders selling off and fund managers adjusting their portfolio probably switching out from STI to regional bourses. While funds could be selling but that doesn't mean STI fundamental getting weak, this is the period whereby funds have to balance their portfolio for year end and where ever could provide the gain, they will switch there.
