FTSE STI closed 3,410.13, down 2.31 points or -0.07% with a total volume of 950M and a total value of S$958M. Total number of advance vs decline was 218 vs 186. Of the 30 component index stocks, 13 closed positive, 6 unchanged and 11 in the red. The top 5 gainer component stocks were :-
1. DBS +0.150
2. UOB +0.100
3. CityDev +0.060
4. SGX +0.060
5. Noble +0.035
The top 5 loser component stocks were :-
1. JMH USD -0.550
2. Jardine C&C -0.370
3. HongkongLand USD -0.070
4. SIA -0.050
5. SPH -0.020
5. SembMar -0.020
5. ComfortDelGro -0.020
US markets traded higher last Friday and Asian bourses taking the cue were mostly positive for the day with Nikkei +0.99%, SSE +1.95% and HSI +0.49%. STI pared earlier gain to close -0.07% in very thin daily volume and value with 13 of the 30 index stocks posted gain.
A weakening of USD caused US markets to surge higher last Friday with Nasdaq closing above 5,000. For Asian markets, without much of economic data for the day, most were traded positive with both Nikkei and SSE hitting another record high. However, Europe markets opened in the red as investors awaiting for the outcome of a meeting between leaders of Greece and Germany regarding the bailout program.
STI opened positive but pared gain to close flat as weakness in European markets in the red capped upside with banking stocks supporting the index. The "event" that could cause knee-jerk reaction to the market did happen but market however managed to ignore it, thereby missing any bargain hunt opportunity. As a whole, market at the moment lacks any positive catalysts to move up higher and should be seeing some pull back for consolidation. Short term investors should start to positioning for next month earning season.
