FTSE STI closed 3,470.80, up 18.79 points or +0.54% with a total volume of 1.13b and a total value of S$802M. Total number of advance vs decline was 221 vs 179. Of the 30 component index stocks, 18 closed positive, 6 unchanged and 6 in the red. The top 5 gainer component stocks were :-
1. JMH USD +0.310
2. UOB +0.240
3. ComfortDelGro +0.080
4. DBS +0.080
5. SGX +0.080
The top 5 loser component stocks were :-
1. JSH USD -0.090
2. Sembcorp -0.080
3. SembMar -0.040
4. Jardine C&C -0.040
5. AscendasReit -0.010
US markets closed at least +1% last Friday and Asian bourses rallied for the day with Nikkei +1.25%, SSE +3.05% and HSI +0.51%. STI in line with regional bourses rose 0.54% but in thin daily volume and value with 18 of the 30 index stocks posted gain.
US markets rebounded as a firm non-farm payroll data eased the fear of weakening economy and as the data was not strong enough to suggest June interest rate hike. Over the weekend, China PBOC cut interest rate by 25-basis point to 5.1% for the 3rd time within 6 months. That piece of news helped Asian markets to rally.
STI closed positive but came with thin volume as most still sideline. Singapore unfortunately is not the primary beneficial of China interest rate cut hence the market still pretty much muted to that. Apart from the blue chips gap up, broader market was range bound due to lack of buying interest.
