FTSE STI closed 1,704.06, down 60.66 points or 3.44% with a total volume of 1.07b and a total value of S$1.04b. Total number of advance vs decline was 105 vs 357. Of the 30 component index stocks, all closed negative. The top 5 loser component stocks were :-
1. Jardine C&C -0.720
2. UOB -0.440
3. SIA -0.400
4. JSH 500US$ -0.400
5. CityDev -0.250
US markets fell average 3% after worse than expected retail sales and Asia bourses reacted by opening down with Nikkei closed -4.92%, HSI -3.37% and SSE -0.45%. STI traded below the pscyhological support of 1,700 in the morning but managed to close above the intra-day low and above the 1,700 level. It also partially closed the gap between 1,680 - 1,715. Board market is under selling pressure and a possibility due to fund redemption. Investors still remain cautious on the corporate earnings and economic data. STI next support if 1,700 can't hold will be 1,650 level.
