FTSE STI closed 1,664.08, up 67.16 points or 4.21% with a total volume of 1.7b and a total value of S$1.1b. Total number of advance vs decline was 375 vs 114. Of the 30 component index stocks, 28 closed positive and 2 closed negative. The top 5 gainer component stocks were :-
1. Jardine C&C +0.610
2. JMH 400US$ +0.500
3. KepCorp +0.450
4. UOB +0.410
5. SIA +0.290
The 2 loser component stocks were :-
1. JSH 500US$ -0.360
2. ComfortDelgro -0.010
US markets retreated last Friday of at least 1% with bank stocks taking the fall. Asia bourses did not react to the drop instead and rally up hoping for good news from US Treasury Secretary to unveil detail plan to buy up the toxic assets tonight. Nikkei closed +3.39%, HSI +4.78% and SSE +1.95%. STI rallied up 4% with bank, property, commodity and offshore/marine counters leading the charge. Beaten down S-Shares also in focus when investors/traders snapped up cheap stocks while riding on the rebound.
