FTSE STI closed 2,128.31, up 51.96 points or 2.5% with a total volume of 1.84b and a total value of S$2b. Total number of advance vs decline was 402 vs 206. Of the 30 component stocks, 21 closed positive, 6 closed negative and 3 remained unchanged. The top 5 gainer component stocks were :-
1. Jardine C&C +1.650
2. JSH 500US$ +0.780
3. JMH 400US$ +0.700
4. CityDev +0.610
5. SIA +0.580
The top 5 loser component stocks were :-
1. Cosco -0.200
2. Olam -0.080
3. SPH -0.050
4. SembMar -0.050
5. SingTel -0.020
In the morning market reacted positively to the strong rebound on US markets ( closed at least 10% ) the night before hitting an intra-day high of 2218.89 points. With Nikkei closed a +14% for the day, the market was supporting well with at least 100 points gain on the index until near closing time when profit taking kick in resulting in the index to close just +51 points. Most investors believe the strong rebound cannot sustain and hence choose to take profit first and remain cautious. US should be announcing detail plans on how to aid the financial market tonight and that is what most investors are looking at. The 3 local banks closed at a lower price than its respective opening price and this is something investors should be cautious of in the next few days of the market.
