FTSE STI closed 3,402.86, down 23.32 points or -0.68% with a total volume of 1.51b and a total value of S$1.41b. Total number of advance vs decline was 165 vs 270. Of the 30 component index stocks, 5 closed positive, 3 unchanged and 22 in the red. The 5 gainer component stocks were :-
1. UOB +0.080
2. HongkongLand USD +0.040
3. ComfortDelGro +0.020
4. SIA Engg +0.020
5. Genting SP +0.005
The top 5 loser component stocks were :-
1. JMH USD -0.700
2. JSH USD -0.440
3. Jardine C&C -0.250
4. DBS -0.120
5. CityDev -0.120
US markets closed mixed yesterday and Asian bourses were also mixed for the day with Nikkei +0.06%, SSE +0.37% and HSI -0.32%. STI fell 0.68% in a highly daily volume and value with only 5 of the 30 index stocks posted gain.
With economic data and oil concerns weighed on investors resulting in US markets closing mixed but Nasdaq with a gain of 0.42% is nearing the 5,000 level. Main data for the day was Japan CPI continued to ease for the 6th month coming in at +2.2% below expectation of +2.3% and the previous month of +2.5%. However, that failed to prevent Nikkei to close at another 15-year high. Investors were a bit on the cautious side as awaiting for tonight US GDP data.
STI was practically flat for the day until the very last minute the index was sold down due to end of the month fund managers doing window dressing on the blue chips. While profit taking continued especially for those after corporate earning, there was also sign of accumulation for selective stocks. As a whole, STI is trying to consolidate, finding a support level to build the base so as to break the 3,450 resistance later.
