FTSE STI closed 3,415.91, down 11.25 points or -0.33% with a total volume of 955M and a total value of S$936M. Total number of advance vs decline was 175 vs 227. Of the 30 component index stocks, 10 closed positive, 7 unchanged and 13 in the red. The top 5 gainer component stocks were :-
1. JMH USD +0.390
2. Capitaland +0.040
3. HongkongLand USD +0.040
4. DBS +0.030
5. Ascendas Reit +0.020
5. SGX +0.020
The top 5 loser component stocks were :-
1. Jardine C&C -0.610
2. UOB -0.290
3. JSH USD -0.190
4. SIA -0.070
5. Noble -0.060
US markets were closed for holiday yesterday while European markets were mostly in the red. Asian markets were mixed for the day with Nikkei -0.10%, SSE +0.78% and HSI +0.24%. STI fell 0.33% in thin daily volume and value with 10 of the 30 index stocks posted gain.
The news for the day was Greece and EU failed to reach agreement over extension to the bailout. EU has given Greece till this Friday as a deadline to agree on the extension. Failure to do so will probably see Greece going to default on its debt and an exit from euro looks very possible too. Greece will have the next few days to try to negotiate a deal if they still want to be in euro. Asia markets were divided upon the news with those in the red reacting to that with exception probably SSE and HSI believing to be having a mini-CNY rally at the moment.
Singapore released its 4Q and FY2014 GDP data this morning. Q4 GDP came in at +4.9% better than expected and that translates to FY2014 GDP of +2.9% higher than the expected. However, that failed to cheer STI as majority were seen taking profit ahead of the CNY holdiay. Next Monday when market reopens from CNY holiday, the event to watch will be Budget Day as most believe Singapore Government will be providing some sort of stimulus to help the stalling economy, easing of property cooling measures could be one of those.
