FTSE STI closed 3,463.10, up 7.32 points or +0.21% with a total volume of 1.22b and a total value of S$1.02b. Total number of advance vs decline was 243 vs 192. Of the 30 component index stocks, 18 closed positive, 4 unchanged and 8 in the red. The top 5 gainer component stocks were :-
1. Jardine C&C +0.260
2. HongkongLand USD +0.240
3. UOB +0.130
4. SIA +0.070
5. AscendasReit +0.060
5. CityDev +0.060
5. OCBC +0.060
The top 5 loser component stocks were :-
1. JSH USD -0.230
2. DBS -0.070
3. Genting SP -0.060
4. Capitaland -0.050
5. Wilmar -0.040
US markets rallied at least 1% yesterday and Asian bourses were mostly positive for the day with Nikkei +0.83%, SSE -1.57% and HSI +1.96%. STI closed +0.21% in typical thin volume and value with 18 of the 30 index stocks posted gain.
A firm weekly jobless claims assured of US labor market recovery offset a shrink in PPI data helped US markets to rally at least 1% with S&P500 closing at new record high. The weakness in PPI caused a weakening of USD as investors pondering of US Fed could delay rate hike. Asian markets taking the positive cue from US markets were mostly traded positive with exception of SSE fell more than 1% due to profit taking. This volatile market session should be seen for the next couple of weeks.
STI continued the small gain from yesterday as most still being cautious and staying sideline. For the time being, the blue chips are following global market volatile session making them good for punting and short-term trading. The broader market however still the lacklustre performance with those punters and traders favourite stocks showing movement only. There was also a sort of broad market rebound for S-Reit but still too early to confirm that the selling is over.
