FTSE STI closed 3,444.57, up 10.33 points or +0.30% with a total volume of 1.09b and a total value of S$974M. Total number of advance vs decline was 184 vs 247. Of the 30 component index stocks, 16 closed positive, 6 unchanged and 8 in the red. The top 5 gainer component stocks were :-
1. CityDev +0.170
2. Jardine C&C +0.140
3. Kepcorp +0.120
4. GLP +0.080
5. SGX +0.060
The top 5 loser component stocks were :-
1. JSH USD -0.070
2. JMH USD -0.070
3. CapitaMall -0.030
4. HongkongLand USD -0.020
5. Ascendas Reit -0.020
US markets rallied average 1% yesterday but Asian bourses were mixed for the day. Nikkei was closed for public holiday, SSE +0.52% and HSI -0.87%. STI rose 0.30% in slightly thinner daily volume and value with 16 of the 30 index stocks posted gain.
Drop in oil price and Greece's concerns failed to prevent US markets from moving up and eased all losses for this year so far. However, Asian markets were mixed as those issues still weighed on investors. EU Finance Ministers will have an emergency meeting tonight on the Greece's bailout issue and that will surely be closely watched. Any short-term measures to prevent the fall out from spiraling might be a big relief to global markets but both parties must work hard if Greece still want to remain in euro.
STI taking the lead from US markets continued to move higher despite OCBC this morning like DBS posted a below expectation Q4 earning but not a bad set of result. While blue chips were holding the index up, broader markets appearing to be on the weak side probably traders unwinding positions ahead of next week CNY.
