FTSE STI closed 3,426.18, down 14.65 points or -0.43% with a total volume of 1.13b and a total value of S$946. Total number of advance vs decline was 188 vs 225. Of the 30 component index stocks, 9 closed positive, 6 unchanged and 15 in the red. The top 5 gainer component stocks were :-
1. Wilmar +0.060
2. GLP +0.030
3. KepCorp +0.030
4. SembCorp +0.030
5. SGX +0.030
The top 5 loser component stocks were :-
1. JMH USD -0.900
2. Jardine C&C -0.540
3. HongkongLand USD -0.150
4. DBS -0.130
5. StarHub -0.100
US markets closed mixed yesterday and Asian bourses were mostly positive for the day with Nikkei +1.08% hitting another new 15-year high, SSE +2.17% and HSI +0.50%. STI failed to track regional markets fell 0.43% in typical daily volume but thin value with 9 of the 30 index stocks posted gain.
DJ continued with another record high but both Nasdaq and S&P500 fell in to the red as investors took profit as US Fed Chairman concluded her 2-days testimony with not much of surprise regarding rate hike. For Asian markets, most markets were able to close positive with both SSE on a post CNY rally catch up.
STI fell into the red after past 2 days of gain weighing down by banks and Jardine group of stocks as profit taking kicked in. STI so far faced with immediate resistance at 3,450 and in order to consolidate, it needs to find a support to build on. With corporate earning coming to an end, this is where STI starts to find the support to build on and short-term wise it is biased towards the downside.
