FTSE STI closed 3,181.94, up 37.24 points or +1.18% with a total volume of 1.27b and a total value of S$1.44b. Total number of advance vs decline was 315 vs 136. Of the 30 component index stocks, 23 closed positive, 3 closed negative and 4 remained unchanged. The top 5 gainer component stocks were :-
1. JMH 400US$ +1.440
2. SIA +0.420
3. KepCorp +0.300
4. F&N +0.200
5. JSH 500US$ +0.200
The 3 loser component stocks were :-
1. CityDev -0.040
2. Jardine C&C -0.040
3. SMRT -0.010
US markets closed negative yesterday night but off their low as better manufacturing and consumer confidence data offset concerns of eurozone debts. Asian bourses were initially off to a quiet start but once China PMI data came out and indicating China economy still expanding, that lifted the sentiment a bit and attracted bargain hunter to the market. Nikkei closed +0.51%, SSE +0.12% and HSI +1.05%. STI recovered from a low of around 3,126 to close +1.18% with 23 out of 30 component stocks managed to close positive. A bullish European markets opening also give a boast to the sentiment in the late afternoon. With today intra-day low of 3,126 still higher than 3,118 and the view of STI might be starting to form the 4th uptrend channel still valid. So far a higher low was achieved and in so, STI might see a higher high in the next few days ( probably capped at 3,190 - 3,200 ) before pulling back and trading within the channel.
An analysis dated 24th Nov 2010 on the STI uptrend channels
