FTSE STI closed 1,706.34, up 42.26 points or 2.54% with a total volume of 1.7b and a total value of S$1.54b. Total number of advance vs decline was 291 vs 163. Of the 30 component index stocks, 21 closed positive, 7 closed negative and 2 remained unchanged. The top 5 gainer component index stocks were :-
1. Jardine C&C +0.560
2. UOB +0.490
3. DBS +0.380
4. KepCorp +0.270
5. SIA +0.180
The top 5 loser component index stocks were :-
1. JMH 400US$ -0.400
2. CityDev -0.120
3. Olam -0.050
4. SMRT -0.020
5. SingTel -0.010
5. StarHub -0.010
5. Cosco -0.010
US markets rallied up strongly in reaction to the plan to buy out the toxic assets of the banks and coupled with better than expected Existing Home Sales data. Asia bourses reacted positively with the strong rally from US and continued the rally from previous day. Nikkei +3.32%, HSI +3.44% and SSE +0.56%. STI broke the 1,700 level with another 2.54% gain with bank stocks leading the rally. STI now rebound 17% from its recent low of 1,455 already. Also note that Property and Commodity stocks are runing tire of the rally and looking for some short-term retractment.
