FTSE STI closed 3,515.85, up 2.85 points or +0.08% with a total volume of 1.78b and a total value of S$1.27b. Total number of advance vs decline was 258 vs 200. Of the 30 component index stocks, 13 closed positive, 6 unchanged and 11 in the red. The top 5 gainer component stocks were :-
1. UOB +0.350
2. JMH USD +0.240
3. CityDev +0.120
4. SingTel +0.070
5. SGX +0.060
The top 5 loser component stocks were :-
1. Jardine C&C -1.080
2. JSH USD -0.210
3. DBS -0.190
4. ST Engg -0.180
5. SembMar -0.090
US markets closed positive last Friday and Asian bourses were mixed but mostly higher for the day with Nikkei -0.18%, SSE +3.06% and HSI +1.33%. STI again swinging between gain and loss closed flat in those typical thin volume and value day with 13 of the 30 index stocks posted gain.
The surge in tech stocks helped Nasdaq to another record closing and lifted rest of US markets. Asian markets however were mixed but mostly able to close higher in particular SSE rallied another 3% to hit another new multi-year high. No deal was reached last Friday between Greece and EU Finance Ministers during the emergency meeting in which Greece if by early next month fail to get any bailout fund will have to default and raise the possibility of exit from euro. For this week apart from corporate earning still in focus, US Fed FOMC meeting starting from Tuesday till Wednesday and US 1Q GDP data end of this week will be another focus point in which investors hoping to get any clue of when US Fed will do rate hike.
STI again was flat for the day despite North Asia continued the bull run. DBS the first local bank to announce 1Q earning released a better than expectation set of result this morning but due to XD and several other index stocks on XD too put some resistance for STI to rise. End of the week will see the other 2 local banks releasing their earning and with some more blue chips and index stocks set to go on XD this week coupling with a short trading week, any upside for the market will be capped.
