FTSE STI closed 2,430.96, up 29.94 points or +1.25% with a total volume of 1.63b and a total value of S$1.42b. Total number of advance vs decline was 338 vs 138. Of the 30 component index stocks, 26 closed positive, 3 closed negative and 1 remained unchanged. The top 5 gainer component stocks were :-
1. CityDev +0.400
2. JMH 400US$ +0.340
3. UOB +0.260
4. DBS +0.180
5. Capitaland +0.110
5. KepCorp +0.110
The 3 loser component stocks were :-
1. HKLand US$ -0.030
2. NobleGrp -0.010
3. CapitaMall -0.010
US markets up average 1% yesterday night after JP Morgan and Google posted earnings beat expectation despite economic data indicating foreclosure increased and CIT group facing bankruptcy. After market closed, IBM also posted earning that beat expectation. Asia bourses continued the rally with the news of better earnings. Nikkei closed +0.55%, SSE +0.19% and HSI +2.42%. STI recoverd from earlier dip to below 2,400 and closed +1.25% at 2,430.96 with bank, property and offshore/marine stocks leading the rally. Investors are also expecting a better than expected earnings from Bank of America and Citigroup tonight. The bearish sentiment tonight will be CIT group unable to get financial aids from US Government will be filing for bankruptcy tonight.
