FTSE STI closed 1,821.13, down 99.66 points or 5.19% with a total volume of 1.07b and a total value of S$1.14b. Total number of advance vs decline was 139 vs 352. Of the 30 component stocks, 28 closed in the negative and 2 remained unchanged. The top 5 loser component stocks were :-
1. DBS -1.040
2. UOB -0.800
3. KepCorp -0.650
4. CityDev -0.550
5. Jardine C&C -0.460
Even though US markets closed down yesterday night, in the early part of the asia bourses trading, most markets were relatively flat until news from Japan that Mitsubishi UFJ would miss its net profit projection for the April-September period by about two-thirds due to higher bad loan costs and coupled with stronger yen, Nikkei closed sharply down almost 7% which dragged other asia bourses down also. Heavy selling of bank stocks were observed in the afternoon part of the trading for STI. Investors will be looking at tonight US corporates' earnings for any lead already.
