FTSE STI closed 3,284.00, up 2.91 points or +0.09% with a total volume of 1.98b and a total value of S$1.14b. Total number of advance vs decline was 184 vs 230. Of the 30 component index stocks, 16 closed positive, 4 unchanged and 10 in the red. The top 5 gainer component stocks were :-
1. Jardine C&C +0.260
2. SGX +0.160
3. CityDev +0.090
4. OCBC +0.070
5. SIA +0.060
The top 5 loser component stocks were :-
1. SIA Engg -0.170
2. Kep Corp -0.110
3. HongkongLand USD -0.070
4. UOB -0.020
5. SembMar -0.020
5. SembCorp -0.020
US markets rebounded with a closing of average 1% yesterday and Asian bourses were mostly positive for the day with Nikkei -0.13%, SSE +3.47% and HSI +0.47%. STI managed to close +0.09% in moderate volume and value with 16 of the 30 index stocks posted gain.
US markets rebounded after concern of the sharp sell down of China stock markets the day before as investors moved into tonight US Fed FOMC meeting outcome. Taking the cue from US markets, Asian markets managed to rebound in particular China market snap a 3-day losing steak to close at least +3% but not without again swinging between gain and loss. Chinese Government continued to pledge support for the market and that eased some fear over the market but most still cautious about it. The outcome of tonight US Fed FOMC meeting will be closely watched as most expecting US Fed to announce when it will start to rate hike and by how much will it be.
STI swinging between gain and loss tracking regional markets managed to close with a slight gain as cautious sit in. Market could be volatile going forward but do watch for the resilient factor.
