FTSE STI closed 2,708.48, up 40.08 points or +1.50% with a total volume of 2.39b and a total value of S$1.88b. Total number of advance vs decline was 447 vs 107. Of the 30 component index stocks, 26 closed positive, 1 closed negative and 3 remained unchanged. The top 5 gainer component stocks were :-
1. Jardine C&C +1.000
2. JMH 400US$ +0.720
3. UOB +0.380
4. CityDev +0.300
5. DBS +0.200
The only loser component stock was :-
1. GoldenAgr -0.005
US markets were mixed yesterday night with DJ and S&P closed in the negative while Nasdaq was slightly positive. After market closed, Intel reported a better than expected earning and that provides a good sentiment for Asia bourses for the day. Nikkei the only market to close down, -0.16% due strengthen of yen. SSE closed +1.17% and HSI +1.95%. STI was relatively range bound in the morning and only came to live in the afternoon session when investors snapping up the blue chips and pushed to index past 2,700 level closing at 2,708.48, +1.50%. Positive European markets opening and DJ future also lifted the sentiment for investors to buying up. If next few days, STI is able to maintain above 2,700, the chance of the rally able to materialize will be higher with a possible target between 2,850 - 2,950.
