FTSE STI closed 1,637.92, down 42.78 points or 2.55% with a total volume of 887M and a total value of S$885M. Total number of advance vs decline was 116 vs 299. Of the 30 component index stocks, only 2 closed positive and 28 closed negative. The 2 gainer component stocks were :-
1. CapitaMall +0.010
2. StarHub +0.010
The top 5 loser component stocks were :-
1. SIA -0.470
2. JMH 400US$ -0.460
3. Jardine C&C -0.410
4. SGX -0.240
5. JSH 500US$ -0.240
US did not have market yesterday night and with Europe mostly closed lower, Asia bourses' sentiment was weak for the day. Nikkei closed -1.35%, HSI closed -3.79% and SSE -2.93%. STI also didn't spare the heavy selling with board market under selling pressure. STI broke the 1,680 support and appears to be heading to the next support level of 1,600. The selling could be accounted by fund redemption. US President Obama will be signing the stimulus bill tonight and outline the mortage saving plan. Investors also concern about the status of the US autocar makers with news that GM might be filling Chapter 11.
