STI up 49.4 pts to close at 3370

After dow closed up 145 pts up last night, STI responded by moving up 49.4 pts to close at 3370 with a volume of 2.8 billion (compared to 1.8 billion yesterday). From my watchlist, I can see a lot of counters moving up. The volume for the surge up is higher too compared to yesterday.

Cosco announced a contract of 700 million...today it cheong up 0.160 to close at 4.940, real power house. Swiber went up 0.200 to close at 2.70 too. Lian beng announced a letter of intent to joint develop a private condominium off Upper bukit timah road with LaSalle investment management asia. Lian beng will be offered a 10% stake in the shareholding of the new company set up and will be the main contractor for the project, valued at about S$46.5 million. Not expected to have effect on FY ending 31May 08.

Straits also went up 0.07 to close up at 1.290, while Pac andes went up 0.050 to close at 0.725. Wow, haven't see Pac andes at 70 cts for quite some time now, hope people will realise how cheap this stock is compared to its valuation. Anyway, I'm glad that my losses pared down even more to 14.2k. Good good :P

I have no feeling for STI now, because I'm sort of out of touch with the market. Looks good to me, but I could be wrong. Dow is down 10 pts, Europe mostly green.