FTSE STI closed 3,298.36, up 16.41 points or +0.50% with a total volume of 1.87b and a total value of S$1.09b. Total number of advance vs decline was 217 vs 181. Of the 30 component index stocks, 16 closed positive, 2 unchanged and 12 in the red. The top 5 gainer component stocks were :-
1. HongkongLand USD +0.330
2. SIA +0.280
3. UOB +0.120
4. SGX +0.090
5. CapitaMall +0.060
The top 5 loser component stocks were :-
1. JMH 400USD -0.490
2. Jardine C&C -0.170
3. CityDev -0.060
4. Olam -0.030
5. JSH 500USD -0.030
5. DBS -0.030
5. ComfortDelGro -0.030
US markets fell again with a drop of at least 0.70%. Asian bourses after yesterday sell down managed to rebound today with Nikkei +0.01%, SSE +0.69% and HSI +0.83%. STI rebounded 0.50% in typical volume and value with 16 of the 30 index stocks posted gain.
Decline in oil price, Greece's political issue and a weak non-ISM data sent US markets falling again. Asian bourses however managed to recover some ground today despite oil price continued the drop. Brent crude fell below US$50/barrel for the first time since 2009 but that did not prevent regional markets from rebound from yesterday sell off. Oil price might have some more downside but global markets appearing to able to absorb that news better probably most expected oil price yet to be bottomed.
STI recovered part of the losses for past 2 days. Oil-related stocks were mixed pressurizing from the declining oil price but broader market is attracting bargain hunting especially for stocks that are due to release their earning in 1 to 2 week times. Remember focus on the fundamental and bigger picture, never take extreme views be it positive or negative, every events will have pros and cons.
