FTSE STI closed 2,168.32, down 128.80 points or 5.61% with a total volume of 1.139b and a total value of S$1.346b. Total number of advance vs decline was 105 vs 460. Of the 30 component stocks, 28 closed in the negative and only 2 closed in the positive. The 2 gainer component stocks were :-
1. Yanlord +0.040
2. SPH +0.040
The top 5 loser component stocks were :-
1. JSH 500US$ -1.260
2. DBS -0.960
3. Jardine C&C -0.880
4. UOB -0.780
5. SIA -0.640
5. KepCorp -0.640
Eventhough last Friday US House of Representatives already passed the revised US$700b bailout bill, markets are now worrying or questioning will that amount be enough and also concern about spreading to Europe and Asia regions. During the weekend, Germany announced a bailout package of 50b euro for Hypo Real Estate, the country's second-biggest commercial property lender and also BNP Paribas taking a 75% stake in the troubled European bank Fortis ( resulting in China Ping An Insurance Co has to write down $2.3b loss in its stake in Fortis ). Across the board, banking, offshore/marine ( due to falling crude oil price ) and property stocks were facing heavy selling pressure.
