FTSE STI closed 1,951.20, down 108.19 points or 5.25% with a total volume of 1.41b and a total value of S$1.4b. Total number of advance vs decline was 129 vs 416. Of the 30 component stocks, only 2 closed in the positive, 1 remained unchanged and 27 of them closed in the negative. The 2 gainer component stocks were :-
1. CapitaMall +0.040
2. Cosco +0.020
The top 5 loser component stocks were :-
1. JMH 400US$ -2.500
2. JSH 500US$ -1.120
3. Jardine C&C -0.880
4. DBS -0.760
5. UOB -0.580
Asia bourses reacted with sharp drop to US markets sharp drop the night before. Nikkei closed 11.4% down, HSI almost 5% down and SSE 4.2% down. With a weak economic data and US Fed chief Ben Benanke comment on US ailing economy, fear of US recession resulted in the heavy selling despite the co-ordinated global efforts to save the troubled banks. Investors in general are remained cautious as the earnings result should give a projected view of how bad the situation will be.
