FTSE STI closed 3,419.02, up 5.76 points or +0.17% with a total volume of 1.24b and a total value of S$951M. Total number of advance vs decline was 240 vs 167. Of the 30 component index stocks, 15 closed positive, 5 unchanged and 10 in the red. The top 5 gainer component stocks were :-
1. UOB +0.140
2. Jardine C&C +0.110
3. KepCorp +0.100
4. JSH USD +0.090
5. SIA +0.050
The top 5 loser component stocks were :-
1. HongkongLand USD -0.070
2. Capitaland -0.040
3. JMH USD -0.030
4. CityDev -0.030
5. Ascendas Reit -0.020
US markets fell at least 0.3% yesterday and Asian bourses were mixed for the day with Nikkei +0.17%, SSE -0.79% broke a 10-day winning streak and HSI +0.53%. STI swinging between positive and negative and again closed flat in typical daily volume but very thin value with 15 of the 30 index stocks posted gain.
Strengthening of USD caused US markets to close lower and giving the weak lead, Asian markets were mixed. There are just few economic data left for this month like US GDP for investors to look at and not to mention the end of 1Q window dressing by fund managers.
STI in range bound mode given the lack of lead from regional markets as fund managers were adjusting their portfolio for 1Q window dressing next week. There is obvious signal in suggesting that as can be seen by the price movement of the blue chips and fundamental mid-cap stocks. Any fundamental strong stocks being sold down for window dressing might be good for bargain hunting for next month earning season while those that are going to be jacked up will have to maintain some cautious.
