FTSE STI closed 3,095.93, up 14.41 points or +0.47% with a total volume of 2.81b and a total value of S$2.16b. Total number of advance vs decline was 309 vs 201. Of the 30 component index stocks, 16 closed positive, 10 closed negative and 4 remained unchanged. The top 5 gainer component stocks were :-
1. JMH 400US$ +0.540
2. JSH 500US$ +0.360
3. CityDev +0.280
4. NobleGrp +0.1.50
5. Jardine C&C +0.140
The top 5 loser component stocks were :-
1. SIA -0.060
2. SembCorp -0.050
3. SIA Engg -0.050
4. HKLand US$ -0.030
5. Olam -0.020
5. Genting -0.020
5. UOB -0.020
US markets rallied at least 1% yesterday night after the US Government body officially announced the recent recession due to sub prime was over and any new dip in economy will not be considered as a double-dip. The news brought much relief to investors who along concerning about double-dip recession. Asian markets were mixed though with Nikkei closed -0.25%, SSE +0.11% and HSI +0.11%. STI opened above 3,100 level and hit intra-day high of 3,106.10 and closed 3,095.39 creating another new high since 2008. However, most of the component stocks were relatively flat with only selective like the Jardine Group moving higher to cater for the index value. Majority of the play was focus on penny stocks namely the laggard in offshore/marine and shipping sector. Investors were also waiting for tonight US Fed chairman's view on the US economy and what are the measures the Fed going to implement to support and promote growth in the US economy.
