FTSE STI closed 2,770.95, up 38.83 points or +1.42% with a total volume of 1.23b and a total value of S$1.37b. Total number of advance vs decline was 346 vs 134. Of the 30 component index stocks, 27 closed positive, 2 closed negative and 1 remained unchanged. The top 5 gainer component stocks were :-
1. UOB +0.560
2. KepCorp +0.240
3. SIA +0.220
4. CityDev +0.180
5. OCBC +0.180
The 2 loser component stocks were :-
1. HKLand US$ -0.050
2. NobleGrp -0.030
US markets rebound at least 0.3% yesterday night after investors believed the Dubai debt issue will be contained and coupled with positive PMI data. Asia bourses mostly opened weak but soon rebound to close in the positive with Nikkei +2.43%, SSE +1.25% and HSI +1.34%. STI rebound after 2 days of loss and managed to close +1.42% with investors snapping up the blue chips in particular the bank stocks when only DBS is exposed to the Dubai debt issue to minimum impact whereas both UOB and OCBC have no linked with it. Commodity also mostly traded up due to the weakening of USD effect.
