FTSE STI closed 1,671.20, up 4.71 points or 0.28% with a total volume of 1.44b and a total value of S$1.51b. Total number of advance vs decline was 220 vs 302. Of the 30 component stocks, 13 closed in the positive, 15 closed in the negative and 2 remained unchanged. The top 5 gainer component stocks were :-
1. JMH 400US$ +2.000
2. JSH 500US$ +0.450
3. DBS +0.400
4. Noble Grp +0.105
5. F&N +0.100
5. HKLand US$ +0.100
The top 5 loser component stocks were :-
1. SIA -0.500
2. OCBC -0.310
3. Yanlord -0.105
4. SGX -0.100
5. ST Engg -0.100
Early part of the day, STI reacted with a gap up to 1,734.66 points after US markets up average 10% the night before with hope of US Federal Reserve will cut interest rate tonight by another 0.5% to 1.0%. With the weakening of the Yen against USD, Nikkei was able to close +7.7% which further firm up STI market despite there was a profit taking in the afternoon sessions. However, investors still taking a cautious stand towards tonight US Federal Reserve's decision on the interest rate which ended up STI just closed marginally flat for the day. All eyes will be on Wall Street whether an interest rate cut will be materialized and in turn saving the ailing US economy.
