FTSE STI closed 1,758.79, up 67.11 points or 3.97% with a total volume of 1.56b and a total value of S$1.41b. Total number of advance vs decline was 364 vs 117. Of the 30 component index stocks, 1 closed negative, 2 remained unchanged and 27 closed positive. The top 5 gainer component stocks were :-
1. Jardine C&C +1.220
2. JMH 400US$ +0.920
3. DBS +0.320
4. KepCorp +0.300
5. JSH 500US$ +0.290
The only loser component stock was :-
1. GoldenAgr -0.005
US markets were very volatile yesterday night. They opened on a high note due to better than expected Durable Goods Order and New Home Sales data but soon moved into the negative region when news of poor response of the auction of the T-Bills/Bonds from the US Government. However, a near closing rally especially from financial counters pulled the indexes back to the positive region. Asia bourses took it as a good sign and reacted positively for the day. Any dip in the prices were quickly snapped up by buyers. Nikkei closed +1.84% and HSI +3.57%. STI was moderately bullish in the afternoon session and heavy buying of the blue chips. Broad sectors were up in general. Tonight US will be releasing its 1Q09 GDP number. Investors will be looking at how bad the data will be. With current bullish sentiment, there could be a possibility that any poor figure might be muted. However, do leave the option that a poorer than expected figure might send the US indexes to a big drop as US markets have rebound for days.
