FTSE STI closed 3,417.57, up 9.55 points or +0.28% with a total volume of 1.22b and a total value of S$1.30b. Total number of advance vs decline was 220 vs 203. Of the 30 component index stocks, 18 closed positive, 3 unchanged and 9 in the red. The top 5 gainer component stocks were :-
1. Jardine C&C +0.320
2. UOB +0.240
3. HongkongLand USD +0.150
4. SGX +0.140
5. KepCorp +0.090
The top 5 loser component stocks were :-
1. JMH USD -0.450
2. SIA Engg -0.150
3. SIA -0.140
4. ComfortDelGro -0.100
5. Ascendas Reit -0.070
US markets rallied at least 1% yesterday and Asian bourses taking the cue were mostly positive for the day with Nikkei +1.98%, SSE -0.93% and HSI +0.51%. STI recovered some of yesterday loss with a gain of 0.28% in typical daily volume and value with 18 of the 30 index stocks registered gain.
Oil price continued the rebound and with Greece's debt talk eased helped US markets to end positive. Most Asian markets were able to trade in the positive region except for SSE after reporting a weak set of service PMI. However, with the weakening of economic data, this could put more pressure to Chinese Government towards monetary easing like cutting the bank reserve-ratio. Oil price rebounded but is not the time to be extremely bullish again as have to wait for the demand to catch up the supply glut. For rest of the week, Friday US non-farm payroll data will be one to be watched.
STI recovered part of yesterday loss with blue chips popping up the index especially bank, property and O&G stocks. However, do cautious that market could pull back the next day too and refrain from chasing up the stocks.
