FTSE STI closed 2,179.03, up 104.68 points or 5.05% with a total volume of 3.93b and a total value of S$S$2.72b. Total number of advance vs decline was 548 vs 110. Of the 30 component index stocks, 25 closed positive, 4 closed negative and 1 remained unchanged. The top 5 gainer component stocks were :-
1. UOB +1.720
2. DBS +0.880
3. SIA +0.640
4. JMH 400US$ +0.520
5. JSH 500US$ +0.500
5. KepCorp +0.500
The 4 loser component stocks were :-
1. ST Engg -0.040
2. HKLand US$ -0.030
3. CapitaMall -0.010
4. Olam -0.010
US markets recovered from low and closed slight negative with investors snapping up the bank stocks prior to the release of the stress test result and also positive comment from US Fed chief that US economy could recover in Q3FY09. Asia markets mostly opened weak but soon picked up momentum in the afternoon and closed higher. HSI +2.46% and SSE +0.98%. STI outperformed rest of the Asia bourses with a close of +5.05% with bank stocks leading the rally with almost 4b of volume. During the lunch break, UOB and OCBC both released their earnings and both managed to beat market expectation and that lifted the whole sentiment with strong buying in the afternoon session.
