FTSE STI closed 3,034.58, up 32.02 points or +1.07% with a total volume of 1.93b and a total value of S$1.48b. Total number of advance vs decline was 367 vs 130. Of the 30 component index stocks, 24 closed positive, 3 closed negative and 3 remained unchanged. The top 5 gainer component stocks were :-
1. CityDev +0.480
2. JSH 500US$ +0.460
3. SIA +0.400
4. JMH 400US$ +0.360
5. UOB +0.320
The 3 loser component stocks were :-
1. ComfortDelGro -0.010
2. SMRT -0.010
3. StarHub -0.010
US markets advanced at least 1% last Friday after a better than expected employment data despite unemployment rate up 0.1% to 9.6% as employers hired more jobs than expected. This has somehow eased some concern about US economy going into a double-dip recession. Furthermore, President Obama is pushing for a business tax credit policy this week to help the economy to grow. Asian bourses took the cue of last Friday US markets performance and traded in the positive region for the day. Nikkei closed +2.05%, SSE +1.54% and HSI +1.83%. STI attracted lot of blue chips buying interest and managed to stay above the 3,000 level and again closed at day high of 3,034.58, challenging the recent high of 3,043. Despite US markets close for today for Labor Day, investors snapping up the blue chips perhaps in anticipation of the outcome of the latest policy by President Obama.
