FTSE STI closed 3,472.38, up 12.08 points or +0.35% with a total volume of 2.70b and a total value of S$1.31b. Total number of advance vs decline was 320 vs 139. Of the 30 component index stocks, 16 closed positive, 5 unchanged and 9 in the red. The top 5 gainer component stocks were :-
1. Jardine C&C +0.600
2. JSH USD +0.530
3. SGX +0.220
4. JMH USD +0.170
5. CityDev +0.100
The top 5 loser component stocks were :-
1. UOB -0.200
2. HongkongLand USD -0.120
3. ComfortDelGro -0.040
4. CapitaMall -0.030
5. SPH -0.020
5. OCBC -0.020
5. Ascendas Reit -0.020
US markets advanced at least 0.3% yesterday and Asian bourses were mostly positive for the day with Nikkei -0.15%, SSE +1.95% and HSI +1.22%. STI in line with regional bourses advanced 0.35% in higher daily volume with 16 of the 30 index stocks posted gain.
Crude oil price firmed up leading to energy stocks on a rebound pushed US markets higher. Asian markets taking the cue were mostly higher with both SSE and HSI hitting new multi-year high. Data for the day was China inflation for March coming in at +1.4%, higher than expectation and maintaining the same as in February. While the data showed steady but the low figure prompted for more monetary easing from Chinese Government to avoid deflation. That probably boosted SSE and HSI markets to multi-year high.
STI on an intra-day basis hit new 52-week high but not on closing. Daily volume was higher due to the punting of penny and small cap stocks. Blue chips and large cap did firm up by the positive sentiment from global markets. Market should be more focus on corporate earning from next week onward.
