FTSE STI closed 1,711.13, up 57.88 points or 3.5% with a total volume of 864M and a total value of S$930M. Total number of advance vs decline was 228 vs 182. Of the 30 component stocks, 2 closed negative, 3 remained unchanged and 25 closed in the positive. The top 5 gainer component stocks were :-
1. UOB +0.700
2. Jardine C&C +0.490
3. Wilmar +0.280
4. JMH 400US$ +0.220
5. CityDev +0.190
The 2 loser component stocks were :-
1. SIA Engg -0.020
2. KepCorp -0.010
US Markets closed firmed yesterday after the Government decision on a US$800b injection to shore up consumer lending despite a worse than expectation of -0.5% in the 3Q GDP figure. Asia markets have a mixed reaction to that with Nikkei closed 1.33% down while HSI closed 3.81% up. STI initially opened weak but managed to close above the 1,700 level with gain backed by banks, SingTel, property and commodity stocks. However, the daily volume was thin and it is also the first time since many months ago that the total value exceed the total volume being transacated, which indicating today main play is on the big blue chips rather than the penny stocks. The moderate rally could be funds house pushing up for a thanksgiving holiday or potentially month end window dressing. There are several important economic data tonight on Durable Goods Orders, Personal Income/Outlays, Jobless Claims and New Home Sales before US markets close for the thanksgiving holiday.
