FTSE STI closed 3,338.84, up 12.68 points or +0.38% with a total volume of 1.28b and a total value of S$1.06b. Total number of advance vs decline was 223 vs 218. Of the 30 component index stocks, 21 closed positive, 4 unchanged and 5 in the red. The top 5 gainer component stocks were :-
1. Jardine C&C +0.250
2. UOB +0.170
3. SGX +0.140
4. Sembcorp +0.110
5. Hongkong Land USD +0.100
The 5 loser component stocks were :-
1. JSH USD -0.330
2. Wilmar -0.020
3. GoldenAgri -0.020
4. ThaiBev -0.010
5. SIA Engg -0.010
US markets fell for the 4th straight day but Asian bourses were on a rebound day with Nikkei +1.86%, SSE +3.52% and HSI +0.99%. STI in line with regional bourses rebounded 0.38% in typical volume and value with 21 of the 30 index stocks posted gain.
US retail sales data for last month and JPMorgan's earning came out worst than expected and that caused US markets to fall. However, they managed to reverse a more than 1% drop to close roughly -0.5%. The bright spot was oil price rebounded 5% yesterday. With the rebound of oil price and India did a surprise rate cut, Asian markets were on a relatively strong rebound. Oil price rebounded was not something unexpected given that from the pasts whenever there were analysts' reports that were negative to oil price, it will fall and then after much digestion oil price rebounded again. Though oil price rebounded but Brent crude still trading below US$50/barrel.
STI with the help of the blue chips be it bargain hunting or short-covering led the market on a rebound. The volatility from last year expected to continue and hence investors will have to adopt to it. The most important is maintained calm and slowly digest any news (be it negative or positive) before any panic or fear action kicks in.
