FTSE STI closed 2,389.42, up 78.87 points or +3.41% with a total volume of 1.79b and a total value of S$1.67b. Total number of advance vs decline was 427 vs 116. Of the 30 component index stocks, 28 closed positive and 2 closed negative. The top 5 gainer component stocks were :-
1. UOB +0.880
2. Jardine C&C +0.740
3. DBS +0.420
4. CityDev +0.350
5. SIA +0.320
The 2 loser component stocks were :-
1. JMH 400US$ -0.220
2. StarHub -0.030
US markets edged up further yesterday night after better than expected earnings from Goldman Sachs, Johnson & Johnson and Intel. Asia bourses continued the uptrend from yesterday with investors snapping up the blue chips. Nikkei closed +0.08%, SSE +1.38% and HSI +2.09%. STI was up +3.41% with intense value as investors snapped up blue chips from bank, property, offshore/marine and commodity sectors. A firm open for European bourses coupled with bullish DJ future also help the buying sentiment. There will be more earnings from Google, JP Morgan, BoA, Citigroup and Intel coming till end of this week. Investors are definitely eying on those earnings and analysts might potentially upgrade fair value if those earnings come in better then expectation.
