FTSE STI closed 2,241.60, up 62.57 points or 2.87% with a total volume of 4.01b and a total value of S$3.26b. Total number of advance vs decline was 424 vs 201. Of the 30 component index stocks, 24 closed positive, 4 closed negative and 2 remained unchanged. The top 5 gainer component stocks were :-
1. SIA +0.880
2. CityDev +0.850
3. Jardine C&C +0.480
4. SGX +0.300
5. DBS +0.260
The 4 loser component stocks were :-
1. Olam -0.100
2. ST Engg -0.070
3. SembCorp -0.030
4. SMRT -0.030
US markets rallied yesterday night when data showed that job losses was less than expected and leaked news about the stress test indicated that those banks who required to raise capital are able to do so without the help of US Government. Asia markets took the cue and opened high. Nikkei reopened after 3 days of holiday playing catch up closed +4.55%, HSI +2.28% and SSE +0.19%. STI closed another 2.87% higher trading above 2,200 level with a 4 billion volume with broad market rallied led by bank, property and offshore/marine stocks. Apparently investors are relatively positive towards tonight release of the US bank stress test result.
