FTSE STI closed 3,328.28, down 42.31 points or -1.26% with a total volume of 1.26b and a total value of S$845M. Total number of advance vs decline was 165 vs 257. Of the 30 component index stocks, 3 closed positive, 1 unchanged and 26 in the red. The 3 gainer component stocks were :-
1. SIA +0.040
2. Ascendas Reit +0.010
3. CapitaMall +0.010
The top 5 loser component stocks were :-
1. Jardine C&C -1.00
2. UOB -0.550
3. JMH 400USD -0.470
4. DBS -0.460
5. JSH 500USD -0.210
5. CityDev -0.210
US markets closed mixed last Friday and Asian bourses were mostly in the red for the day. Nikkei and SSE reopened for 2015 closed -0.24% and +3.61% respectively and HSI -0.57%. STI fell 1.26% in thin volume and value with only 3 of the 30 index stocks posted gain.
The first few economic data for 2015 all came in disappointment. US ISM, China PMI and Eurozone PMI all came in weaker than the previous month. Coupling with the concern of oversupply in oil depressing oil price, most of the markets were in the red. China was the exception as the weaker than economic data the higher the possibilities of Chinese Government revealing stimulus. Data to indicate oil supply for US will be revealed tonight and most anticipating an increase in supply thereby resulting in oil price falling for the day even before the report is released. Other economic data releasing this week will be China trade data and US non-farm payroll.
STI fell more than 1% surrounded by mostly negative news. Most of the drop were from blue chips possibility of profit taking from short-term players and oil-related stocks also faced selling pressure amid the decline in oil price. However, mid, small and penny stocks were rather resilient for the time being. Volatility should be expected this week given that some key global economic data will be releasing in the next few days.
