FTSE STI closed 1,766.08, up 80.85 points or 4.80% with a total volume of 646M and a total value of S$777M. Total number of advance vs decline was 266 vs 107. Of the 30 component index stocks, all of them closed positive. The top 5 gainer component stocks were :-
1. UOB +0.660
2. DBS +0.610
3. CityDev +0.420
3. Jardine C&C +0.420
5. SIA +0.340
US markets closed firmly on the positive for last 2 days and with Nikkei closed 5% up yesterday, STI opened for the year of Ox with a positive note. Banks leading the post-CNY rally. However, with a thin volume, investors still very much remain cautious with the development on the US side. The status of Obama's stimulus package, the economic data, the corporate earnings and the outcome of the FOMC meeting tonight. HSI was closed for the day and only re-opened tomorrow and investors were found missing a leader.
