FTSE STI closed 2,959.01, up 26.97 points or +0.92% with a total volume of 1.90b and a total value of S$1.63b. Total number of advance vs decline was 277 vs 187. Of the 30 component index stocks, 24 closed positive, 5 closed negative and 1 remained unchanged. The top 5 gainer component stocks were :-
1. UOB +0.440
2. Jardine C&C +0.200
3. JSH 500US$ +0.160
4. DBS +0.140
5. HKLand US$ +0.140
The 5 loser component stocks were :-
1. SembMar -0.030
2. CityDev -0.020
3. NobleGrp -0.010
4. Capitaland -0.010
5. GoldenAgr -0.005
US markets rebound yesterday night with US Fed maintained low interest rate for extended period of time despite S&P500 downgraded Spain rating. Investors are awaiting for the bailout of Greece's debt and Corporate earnings at the moment. Asia bourses traded in the positive region in the morning but closed mixed. Nikkei was closed for holiday, SSE closed -1.10% and HSI -0.81%. STI bucked the trend with a +0.92% gain with bank stocks leading the rebound from yesterday sell off. Trading volume also increased as compared with yesterday. There were also news that StarHub and SingTel have sealed the broadcast rights for the World Cup. Investors are looking for bank earnings next week.
