FTSE STI closed 3,351.33, up 11.55 points or +0.35% with a total volume of 1.42b and a total value of S$1.05b. Total number of advance vs decline was 273 vs 163. Of the 30 component index stocks, 16 closed positive, 4 unchanged and 10 in the red. The top 5 gainer component stocks were :-
1. JMH USD +0.980
2. JSH USD +0.320
3. SIA +0.240
4. CityDev +0.170
5. UOB +0.120
The top 5 loser component stocks were :-
1. Jardine C&C -0.680
2. HongkongLand USD -0.120
3. DBS -0.110
4. Ascendas Reit -0.040
5. SingTel -0.030
US markets closed positive yesterday and Asian bourses were all positive for the day with Nikkei +0.28%, SSE +2.48% and HSI +0.26%. STI rose 0.35% in typical volume and value with 16 of the 30 index stocks posted gain.
With optimistic on the Greece issue coupled with positive economic data in Durable Goods Orders drove US markets on another positive day with Nasdaq hitting another new record high. Taking the cue, Asian markets stayed on the positive side for the day.
STI continued to edge higher towards the resistance level at 3,360 due to bargain hunting on blue chips. Furthermore, S-Reits which have been in focus due to possible US interest rate hike starting to moving higher prior to their respective earning next month. This could be due to funds buying in ahead of next month. Another observation was property stocks were having a broad base upwards movement. This could be due to fund preparing for 1H window dressing next week. Though index has moved up due to certain blue chips, the broad market has yet to experience the bargain hunting and hence it is still not to late to accumulate for the quality and fundamental strong stocks.
