FTSE STI closed 2,745.02, up 51.40 points or +1.91% with a total volume of 1.36b and a total value of S$1.33b. Total number of advance vs decline was 280 vs 199. Of the 30 component index stocks, 24 closed positive, 5 closed negative and 1 remained unchanged. The top 5 gainer component stocks were :-
1. UOB +0.540
2. CityDev +0.300
3. JMH 400US$ +0.240
4. OCBC +0.230
5. Wilmar +0.230
The top 5 loser component stocks were :-
1. Jardine C&C -0.140
2. F&N -0.030
3. SIA Engg -0.030
4. NOL -0.020
5. SMRT -0.020
US markets fell at least 1% yesterday night as concern of European debt issue weighed down the markets. Asia bourses started the day weak in reaction to the fell in US markets but soon managed to reverse the earlier loss. Nikkei closed -0.19%, SSE +0.47% and HSI +1.22%. STI in line with other regional bourses reversed earlier loss and managed to close +1.91% with investors snapping up beaten down blue chips. SingTel reported its 3Q earning this morning before market open and beat market expectation. That help the market sentiment in lifting the index as it closed almost +3%. A positive DJ future coupled with positive opening of European bourses also boosted the buying.
