FTSE STI closed 3,349.87, down 1.46 points or -0.04% with a total volume of 1.26b and a total value of S$940M. Total number of advance vs decline was 150 vs 251. Of the 30 component index stocks, 13 closed positive, 4 unchanged and 13 in the red. The top 5 gainer component stocks were :-
1. JSH USD +0.140
2. SGX +0.100
3. OCBC +0.080
4. DBS +0.050
5. CityDev +0.020
5. HongkongLand USD +0.020
5. Noble +0.020
5. UOB +0.020
The top 5 loser component stocks were :-
1. JMH USD -0.570
2. Jardine C&C -0.180
3. SIA -0.170
4. SingTel -0.040
5. Kep Corp -0.040
US markets fell at least 0.70% yesterday and Asian bourses were mostly lower for the day with Nikkei -0.46%, SSE -3.44% and HSI -0.95%. STI fared better than regional bourses with a flat closing in thin volume and value with 13 of the 30 index stocks posted gain.
US 1Q GDP declined 0.2% in line with expectation but above previous estimation of -0.7% but that failed to eased the concerns on the Greece issue resulting in US markets fell at least 0.7%. EU meeting yesterday concluded without any resolution as the latest Greece's proposal was rejected. The meeting will resume tonight ahead of the weekend summit. The latest development worried investors about a possible Greece default and that weighed down Asian markets. The Greece's saga will definitely in focus for rest of this week trading days.
STI opened lower swinging between gain and loss eventually closing flat as most sideline prior to the outcome of this weekend Greece's issue. Selling was observed from punters and short-term traders squaring off positions while bargain hunters were waiting to capitalize on any panic selling opportunities. STI could be entering a third bottom for the next few days and that should be the cue to bargain hunt.
