FTSE STI closed 3,454.26, up 4.16 points or +0.12% with a total volume of 1.62b and a total value of S$959M. Total number of advance vs decline was 228 vs 188. Of the 30 component index stocks, 12 closed positive, 4 unchanged and 14 in the red. The top 5 gainer component stocks were :-
1. JSH USD +0.690
2. Kep Corp +0.090
3. DBS +0.060
4. HongkongLand USD +0.060
5. Capitaland +0.050
5. SIA +0.050
The top 5 loser component stocks were :-
1. Jardine C&C -0.480
2. JMH USD -0.160
3. SingTel -0.050
4. ComfortDelGro -0.050
5. SembMar -0.040
US markets broke 4-day losing streak to close with a gain of at least 0.2%. Asian bourses were mostly positive for the day with Nikkei +0.65%, SSE +2.62% hitting new high and HSI +1.51%. STI mostly range bound for the day closing +0.12% in higher daily volume but thin value with 12 of the 30 index stocks posted gain.
Comment from US Fed Chairman Janet Yellen assuring investors that the pace of US interest rate hike will be gradual helped US markets broke a 4-day losing streak against a below expectation of final 1Q GDP figure of +2.2%. Asian bourses taking the cue were mostly positive for the day with SSE continued breaking new high as investors bet on more monetary easing from PBoC. Window dressing for end of 1Q also helped most of Asian markets higher. Couple of economic data happened in this shortened week might get markets to get volatile. China official PMI and US March non-farm payroll data will be the 2 closely watched.
STI managed to stay positive despite a range bound performance mostly helped by window dressing of the blue chips, large cap and fundamental strong mid-cap stocks. The weakening of SGD against USD for the day is like monetary easing from MAS probably helped to attract some funds inflow. Nevertheless, the focus should be on the coming corporate earning starting from 2nd week of April.
