FTSE STI closed 2,783.85, up 56.62 points or +2.08% with a total volume of 1.85b and a total value of S$1.80b. Total number of advance vs decline was 458 vs 113. Of the 30 component index stocks, 24 closed positive, 3 closed negative and 3 remained unchanged. The top 5 gainer component stocks were :-
1. JMH 400US$ +1.000
2. UOB +0.980
3. DBS +0.420
4. CityDev +0.380
5. OCBC +0.340
The 3 loser component stocks were :-
1. ComfortDelGro -0.010
2. StarHub -0.010
3. GoldenAgr -0.005
US markets continued advance last Friday and that gave Asia bourses the cue to trade higher for the day. Nikkei closed +0.21%, SSE +2.74% and HSI +1.73%. The outcome of the APEC meeting over the weekend looked well received by the markets and that drove the market up. Japan announced a better than expected 3Q GDP also gave rest of the Asia bourses further boast coupling with positive DJ future and positive opening from European markets. STI closed at another year high at 2,783.85 with bank and property stocks leading the rally. Analysts also starting to upgrade fair value of stocks based on their recent earnings.
