FTSE STI closed 1,782.09, up 7.33 points or 0.41% with a total volume of 788M and a total value of S$643M. Total number of advance vs decline was 161 vs 195. Of the 30 component stocks, 19 closed positive, 8 closed negative and 3 remained unchanged. The top 5 gainer component stocks were :-
1. JMH 400US$ +0.600
2. SIA +0.340
3. Jardine C&C +0.240
4. JSH 500US$ +0.130
5. OCBC +0.120
The top 5 loser component stocks were :-
1. DBS -0.140
2. HKLand US$ -0.110
3. Capitaland -0.090
4. NOL -0.050
5. Cosco -0.050
US markets retreated yesterday night when investors taking out profit and remained cautious ahead of the US Federal Reserve decision on the interest rate tonight. Furthermore, no confirmation of the automaker bailout was made also. Asia bourses opened lower following that this morning however managed to rebound from the low due to bargain hunting and also hoping for US Federal Reserve to cut interest rate by 0.5%. Nikkei closed -1.12%, HSI closed +0.55%, SSE closed +0.54% and STI reversed from negative to close +0.41%. Tonight there will also be announcement from the OPEC meeting regarding cutting of output. Should that happen and the number is what market expected and satisfied with, offshore and marine stocks might enjoy some mini rally tomorrow.
