FTSE STI closed 1,528.51, down 4.89 points or 0.32% with a total volume of 1.05b and a total value of S$1.09b. Total number of advance vs decline was 177 vs 244. Of the 30 component index stocks, 14 closed positive, 15 closed negative and 1 remained unchanged. The top 5 gainer component stocks were :-
1. CityDev +0.140
2. SIA +0.080
2. SGX +0.080
4. SembMar +0.070
5. ST Engg +0.060
The top 5 loser component stocks were :-
1. JMH 400US$ -0.620
2. JSH 500US$ -0.500
3. Jardine C&C -0.180
4. DBS -0.170
5. UOB -0.120
US markets fell at least 4% overnight with DJI closing below the 7,000 level after AIG requested a third bailout from the US Government. Concern about the financial sectors in the US drove the equity market low. Next in line Freddy Mac and Fannie Mae should be the next 2 to be asking for more bailout. Asia bourses reacted to the heavy drop with negative opening. However, most managed to recover from intra-day low. Nikkei -0.69%, HSI -2.30% and SSE -1.05%. STI hit an intra-day low of 1,509.48 before recovering to close -0.32%. Pulling the drag today was bank stocks. However, property and offshore/marine counters bucked the trend to help STI closed relatively flat.
