FTSE STI closed 2,059.39, down 68.92 points or 3.24% with a total volume of 1.14b and a total value of S$1.21b. Total number of advance vs decline was 137 vs 394. Of the 30 component stocks, 7 closed positive and 23 closed in the negative. The top 5 gainer component stocks were :-
1. Jardine C&C +0.380
2. JMH 400US$ +0.300
3. HKLand US$ +0.100
4. SGX +0.040
5. F&N +0.020
5. ST Engg +0.020
The top 5 loser component stocks were :-
1. DBS -0.700
2. JSH 500US$ -0.500
3. UOB -0.420
4. KepCorp -0.370
5. SIA -0.320
Even with US announcing the detail of the bailout plan, US markets still retract from profit taking. With a weak closing on the US markets, asia bourses mostly appear weak in today trade. All closed in the negative except for Nikkei. Investors are slowly cashing out of profit and still remain cautious as the bailout plan is not a quick fix of the financial crisis issue. Markets should be looking forwards this week when US companies announcing their quarter earnings to determine the impact of the crisis on the corporates' earnings. SGX announced its 1Q09 earnings with a net profit of S$84.5m, down 35% as compared with 1Q08.
