FTSE STI closed 3,370.29, up 15.83 points or +0.47% with a total volume of 1.65b and a total value of S$1.29b. Total number of advance vs decline was 295 vs 146. Of the 30 component index stocks, 16 closed positive, 6 unchanged and 8 in the red. The top 5 gainer component stocks were :-
1. JSH USD +0.610
2. Jardine C&C +0.480
3. CityDev +0.180
4. UOB +0.150
5. Sembcorp +0.120
The top 5 loser component stocks were :-
1. SIA -0.080
2. HongkongLand USD -0.040
3. SIA Engg -0.030
4. SPH -0.020
5. ST Engg -0.010
5. GoldenAgri -0.010
5. ComfortDelGro -0.010
US markets gained for the 3rd day in a row with at least +0.2%. Asian bourses were having a choppy day swinging between gain and loss but managed to close positive eventually with Nikkei +0.28%, SSE +0.63% and HSI +0.70%. STI in line with regional bourses closed the day with a gain of 0.47% in typical volume and value than past days and 16 of the 30 index stocks posted gain.
US corporate earning continued to be mixed but investors were focus on the D-day. Asian markets managed to close positive ahead of tonight ECB meeting despite choppy trade. For the D-day, investors are expecting ECB to unveil its QE with the amount to be between 500b to 600b euro. Anything more aggressive than that should see global markets rallying for the next few weeks. However, if ECB does act and it is within market expectation, can we see some selling on news ? Possible given that markets have ran up to factor in that.
STI continued the positive momentum from past days with trading activities also increased probably most are expecting QE from ECB will do good to the global stock markets. So far Singapore corporate earning has not been disappointing. The talk of the day will be Singapore transport fare going to increase 2.8% from April 2015. While oil price has plunged more than 50% giving transport operators the boost in profit margin, an increased in fare price could never be justify. Increased in fare price does not make any economic sense as it never benefit the nation. Ideally, a fare cut would benefit the nation and alternatively a delay in fare hike is not a bad idea too. Fare hike at this moment is not what a caring government that put nation's interest as top priority should and will do.
