FTSE STI closed 3,412.20, up 13.68 points or +0.40% with a total volume of 1.85b and a total value of S$1.49b. Total number of advance vs decline was 267 vs 187. Of the 30 component index stocks, 12 closed positive, 3 unchanged and 15 in the red. The top 5 gainer component stocks were :-
1. JMH USD +2.480
2. JSH USD +0.190
3. Jardine C&C +0.610
4. SIA +0.140
5. ComfortDelGro +0.110
The top 5 loser component stocks were :-
1. HongkongLand USD -0.080
2. Ascendas Reit -0.070
3. SGX -0.060
4. Wilmar -0.040
5. SPH -0.030
5. OCBC -0.030
5. GLP -0.030
US markets rebounded from last Friday drop but Asian bourses were mixed for the day. Nikkei +1.72%, SSE -0.85% and HSI -0.41%. STI recovered from yesterday loss and closed +0.40% in slightly higher daily volume and value with 12 of the 30 index stocks registered gain.
US markets were able to overcome the worries of Greece's election outcome and closed positive. Asian markets taking the cue from US were mixed for the day as Greece worries faded. Though that concern ha eased but doesn't mean it is totally over, it still depend how the newly formed coalition Greek Government going to deal with EU and its bailout. However, SSE and HSI went the other direction as profit taking weighed on. Crude oil price continued to show weakness despite positive comments from OPEC. US Fed will be starting its 2-day FOMC meeting today and investors again looking for cue when US Fed will start to raise interest rate despite the recent weakness in economic data globally.
STI regained the 3,400 level with a rebound of 0.40% thanks to the usual suspect of the Jardine group of stocks providing most of the gain for the index. So far Singapore corporate earning has been pretty much within expectation and that should be a bright spot given the recent weakness in global economy. With ECB launched a bigger than expected QE last week, yield stocks were again in the spotlight as high-yield stocks like S-Reits continued to show strength despite going XD.
