FTSE STI closed 1,651.06, up 13.14 points or 0.8% with a total volume of 827M and a total value of S$808M. Total number of advance vs decline was 179 vs 171. Of the 30 component index stocks, 18 closed positive, 10 closed negative and 2 remained unchanged. The top 5 gainer component stocks were :-
1. SIA +0.250
2. ST Engg +0.180
3. CityDev +0.150
4. KepCorp +0.130
5. DBS +0.070
5. SPH +0.070
The top 5 loser component stocks were :-
1. JMH 400US$ -0.200
2. UOB -0.120
3. Jardine C&C -0.080
4. JSH 500US$ -0.060
4. HKLand US$ -0.060
US markets fell at least 4% last night despite President Obama put the stimulus bill into law. Investors were wondering is it too late and how effective will that be to rescue the ailing economy that caused the sold down. Asia bourses reacted with opened low but some managed to reverse the drop and closed positive for the day. Nikkei closed -1.45%, HSI +0.55% and SSE -4.72%. STI also managed to reverse the drop and close +0.8%. Bank stocks were mixed after OCBC reported its 4Q08 earnings during lunch time. Its 4Q net profit was S$301M vs S$428M, market expecting S$312M. Property, Offshore/Marine and Comodity stocks were up lifting the STI index. Tonight US markets will be looking at the status of the US carmaker for their seeking of montery aids.
