FTSE STI closed 1,920.28, up 70.71 points or 3.82% with a total volume of 2.01b and total value of S$1.74b. Total number of advance vs decline was 349 vs 150. Of the 30 component index stocks, 27 closed positive, 2 closed negative and 1 remained unchanged. The top 5 gainer component stocks were :-
1. JMH 400US$ +1.480
2. Jardine C&C +1.020
3. CityDev +0.660
4. UOB +0.500
5. DBS +0.400
5. JSH 500US$ +0.400
5. OCBC +0.400
5. SIA +0.400
The 2 loser component stocks were :-
1. StarHub -0.040
2. SPH -0.040
US markets rallied yesterday despite a reported sharp slide in 1Q09 GDP of -6.1% and a death case of swine flu in US. US Federal Reserve maintained virtually 0% Fed rate and re-enforced using aggressive measures to combat the ailing economy. Investors took the cue and buy up the stocks. Asia bourses reacted with the rally very positively and probably coupled with last trading of the month for most Asia bourses; a month end window dressing, Nikkei closed +3.94%, HSI +3.77% and SSE +0.38%. STI also on a buying spree with investors snapping up the blue chips as 27/30 component index stocks all being buy up. WHO has upgraded the swine situation from level 4 to level 5 this morning and according to some source 6/19 banks gone through the stress test failed and required capital. Bank of America and Citigroup are among the 2. Investors still remain cautious ahead of the 4th May bank stress test result announcement.
