WHAT HAPPENED LAST NIGHT
US stocks were higher after the close on Wednesday, as gains in the energy, real estate and technology sectors led shares higher. At the close of the NYSE, the DJIA rose 0.07% while the S&P 500 index gained 0.14%, and the NASDAQ Composite index advanced 0.14%. Advancing stocks outnumbered falling ones on the NYSE by 1,832 to 1,487 and 162 ended unchanged; on the Nasdaq Stock Exchange, 2,134 advanced and 2,098 declined, while 205 ended unchanged. (Source: WSJ, CNBC.
Singapore Strategy Update:
Singapore Funds Flow – Institutional investors were net buyers of the STI in May, assisted somewhat by MSCI Singapore Index revisions; retail investors were net sellers.
Institutional investors were net buyers of the STI in May 21, purchasing 70% more stock than what they sold, based on the top 20 most active counters. However, retail investors appeared to take the old adage “sell in May and go away” to heart, selling 40% more stock than they bought…