FTSE STI closed 2,782.55, up 25.09 points or +0.91% with a total volume of 1.19b and a total value of S$1.27b. Total number of advance vs decline was 274 vs 154. Of the 30 component index, 22 closed positive, 5 closed negative and 3 remained unchanged. The top 5 gainer component stocks were :-
1. Jardine C&C +0.780
2. SembMar +0.260
3. UOB +0.160
4. DBS +0.160
5. SembCorp +0.130
The top 5 loser component stocks were :-
1. JMH 400US$ -0.520
2. JSH 500US$ -0.400
3. Cosco -0.020
4. Genting -0.015
5. StarHub -0.010
US markets pulled back yesterday night due to profit taking after 4 sessions of advanced. Asia bourses also took a break as investors chose to take profit after the recent mini run up. Nikkei closed 0.47%, SSE -0.69% and HSI +1.21%. HSI managed to recover from a negative position to close positive also helped STI to reverse the earlier loss to post a +25 points closing. In the afternoon there was news about Dubai World will be able to fix its finances. This news boosted European markets to open in the positive and DJ future maintained at positive. Banks and Offshore/Marine led the gain in STI after SembMar reported a very much better than expected result yesterday night. Furthermore, investors will be looking at tomorrow night US Fed Chief's detail on the recent discount rate hike.
