FTSE STI closed 1,806.96, down 78.06 points or 4.14% with a total volume of 1.35b and a total value of S$952M. The total number of advance vs decline was 112 vs 335. Of the 30 component stocks, only 4 closed positive, 25 closed negative and 1 remained unchanged. The top 4 gainer component stocks were :-
1. JSH 500US$ +0.160
2. JMH 400US$ +0.060
3. F&N +0.020
4. Gen Int +0.005
The top 5 loser component stocks were :-
1. DBS -0.680
2. UOB -0.560
3. SIA -0.520
4. CityDev -0.350
5. KepCorp -0.250
US markets only initially responsed to the US$586b China stimulus package and sentiment soon faded away when investors concentrate on the economy and corporate earnings instead. Circuit City filed for bankruptcy act yesterday and coupled with Fannie Mae reported a hugh loss in earnings soon dragged down the index and closed negative. Asia markets responsed with opening gapped down as well. At some points markets seem to be able to recover the early loss and move back into positive region but the weakness in buying and investors cashing out soon caused bourses to close lower instead. There isn't any economic data for the night and hence US markets might be flat.
