FTSE STI closed 1,754.58, up 95.41 points or 5.75% with a total volume of 1.45b and a total value of S$1.36b. Total number of advance vs decline was 334 vs 125. Of the 30 component stocks, 27 closed positive and 3 closed negative. The top 5 gainer component stocks were :-
1. UOB +1.160
2. SIA +1.060
3. Jardine C&C +0.690
4. CityDev +0.660
5. SGX +0.460
The 3 loser component stocks were :-
1. SPH -0.160
2. StarHub -0.030
3. CapitaMall -0.030
US markets again rally yesterday night when news of good progress for the automaker bailout and President-elect Obama plans to launch the largest infrastructure investment program in 50 years to save the ailing US economy. Asia bourses mostly flat or subjected to profit taking after yesterday rally. Japan on the other hand revealed that its economy fell into a deeper recession than initially estimated. STI rallied 5.75% bucking the trend of other Asia bourses probably playing catch up to yesterday rally. Banks, Property, Offshore/Marine and Singtel were leading the index to a strong rally. The index component that buck the rise was SPH when it went XD today with a $0.19/share dividend. Also S-Reits were subjected to heavy selling pressure probably due to adjustment for next year earning; a possibility for drop in rental income and refinancing worries.
