FTSE STI closed 3,349.84, up 9.09 points or +0.27% with a total volume of 1.32b and a total value of S$1.50b. Total number of advance vs decline was 199 vs 249. Of the 30 component index stocks, 11 closed positive, 3 unchanged and 16 in the red. The top 5 gainer component stocks were :-
1. DBS +0.260
2. UOB +0.120
3. SingTel +0.090
4. SGX +0.070
5. CityDev +0.060
The top 5 loser component stocks were :-
1. JMH USD -0.380
2. JSH USD -0.230
3. HongkongLand USD -0.060
4. Kep Corp -0.050
5. Noble -0.025
US markets failed to hold gain and closed lower losing at least 0.1% yesterday. Asian bourses were mixed for the day with Nikkei -0.34%, SSE -0.01% and HSI +0.69%. STI after past days of selling down managed to stage a slight rebound closing +0.27% in typical thin daily volume and value with 11 of the 30 index stocks posted gain.
The concern of Greece's debt weighed on investors as not much of positive news or events offset that leading to US markets swing to the red yesterday. Without firm lead, Asian markets also mixed for the day with some managed to stage a relief rebound. All eyes will be on Greece for the next 2 days as news that Greek Government has submitted a reform draft to its creditors. Ability to reach agreement will give lifeline to Greece in which it is facing a 300m euro payment this Friday to IMF.
STI was on a relief rebound finally closing positive after days of selling. Whether funds have finished selling is still unknown but for mid and long-term investors or traders, it is the timing to start looking out for bargain hunt deals. History showed that funds always misread the market !
