FTSE STI closed 3,3316.50, up 5.28 points or +0.16% with a total volume of 1.22b and a total value of S$892M. Total number of advance vs decline was 222 vs 216. Of the 30 component index stocks, 19 closed positive, 4 unchanged and 7 in the red. The top 5 gainer component stocks were :-
1. SIA +0.130
2. JMH USD +0.110
3. CityDev +0.100
4. DBS +0.100
5. JSH USD +0.090
The top 5 loser component stocks were :-
1. Jardine C&C -0.480
2. SGX -0.060
3. SingTel -0.050
4. Sembcorp -0.030
5. SembMar -0.010
5. ComfortDelGro -0.010
US markets rose at least 1% yesterday and Asian bourses however were mixed for the day with Nikkei +1.47%, SSE -1.12% and HSI -0.41%. STI after past days of gain closed flat in thin volume and value with 19 of the 30 index stocks posted gain.
While US markets joined in to cheer the relief of Greece's crisis, Asian markets eased on that positive sentiment as after all, it is still not all done as Greece Government has to pass those austerity measures wanted in the bailout agreement as law. Just last week when majority of the Greek have voted against austerity and now they have to stomach those or even more in order to get more aids and not to kick out of euro. It will not going to be easy. China market also eased after past days of rebound as it trying to stabilize it. What's more important for China market is stabilization and not those volatile gain and loss in a day. Event to watch tonight will be US Fed Chairman testimony in front of congress.
STI was muted for the day as investors digesting the latest GDP data. Q2 fell sharply by 4.6% missing expectation of a growth of 0.8% and that brought an advance estimate of +1.7% for the year again missing the forecast of +2.4%. The sharp drop was due to unexpected slowdown on factory and services. The weak set of data coupling with investors trying to digest the recent rebound in global stock markets sending STI to a flat closing. That probably be a good news as giving more chance for bargain hunting.
