FTSE STI closed 1,673.14, down 72.52 points or 4.15% with a total volume of 1.06b and a total value of S$881M. Total number of advance vs decline was 120 vs 367. Of the 30 component index stocks, 2 closed positive and 28 closed negative. The 2 gainer component stocks were :-
1. SIA Engg +0.030
2. SMRT +0.010
The top 5 loser component stocks were :-
1. UOB -0.580
2. Jardine C&C -0.500
3. DBS -0.350
4. JMH 400US$ -0.340
5. CityDev -0.330
US markets retreated last Friday and Asia bourses took the signal started selling off when trading start. With news of US automaker bailing out decision this week coupling with GM and Chysler failed to submit a restructuring plan, investors chose to remain cautious taking off profit from last week rally. Nikkei closed -4.53%, HSI -4.70% and SSE -0.69%. STI was down with most of the index stocks fell. Bank, property, offshore/marine and commodity stocks all retreat.
