FTSE STI closed 3,487.15, down 7.94 points or -0.23% with a total volume of 1.49b and a total value of S$1.12b. Total number of advance vs decline was 184 vs 268. Of the 30 component index stocks, 10 closed positive, 1 unchanged and 19 in the red. The top 5 gainer component stocks were :-
1. HongkongLand USD +0.290
2. DBS +0.060
3. OCBC +0.060
4. Kep Corp +0.040
5. ComfortDelGro +0.020
5. Sembcorp +0.020
5. SembMar +0.020
5. SingTel +0.020
The top 5 loser component stocks were :-
1. UOB -0.540
2. Jardine C&C -0.220
3. JSH USD -0.200
4. JMH USD -0.160
5. AscendasReit -0.120
US markets closed mixed yesterday and Asian bourses were also mixed for the day with Nikkei +0.38%, SSE +0.01% and HSI -0.15%. STI fell 0.23% in those typical thin volume and value day with 10 of the 30 index stocks posted gain.
Investors were getting cautious ahead of the outcome of tonight US Fed FOMC meeting and 1Q GDP data. While there should not be any surprise on the monetary policy, investors are looking for key word from Fed statement in accessing US economy growth and when interest rate will hike. The cautiousness spread to Asian markets too as most of them were range bound.
Cautiousness and stocks went XD weighed down STI as short-term traders and punters were not willing to take any risk and mid to long term investors probably waiting at the sideline for stock prices to fall before any bargain hunting. Selling pressure piled up for stocks went XD and after releasing of their respective earning while those awaiting for their result were barely hanging on.
