FTSE STI closed 1,868.82, up 39.13 points or 2.14% with a total volume of 2.3b and a total value of S$1.64b. Total number of advance vs decline was 340 vs 216. Of the 30 component stocks, 22 closed positive, 7 closed negative and 1 remained unchanged. The top 5 gainer component stocks were :-
1. UOB +0.440
2. KepCorp +0.390
3. SGX +0.330
4. SembCorp +0.250
5. SembMar +0.210
5. OCBC +0.210
The top 5 loser component stocks were :-
1. JSH 500US$ -0.500
2. Jardine C&C -0.200
3. ST Engg -0.170
4. JMH 400US$ -0.100
5. Cosco -0.050
US markets rallied overnight prior to the result of the US Presidential election and asia bourses all opened gap up inline with the rally. However, as soon as the result that Obama won the presidential race, there was a slight profit taking and more profit taking kicked in in the afternoon session as investors probably adopt the sell on news method and also stay cautious as to what the new president can bring to stabilize the US and global economies. OCBC announced its 3Q earning during lunchtime and like UOB it missed market expectation and that was one of the reason the 3 local banks ended the day at almost the day low price.
