FTSE STI closed 2,292.97, down 13.11 points or 0.57% with a total volume of 2.29b and a total value of S$1.53b. Total number of advance vs decline was 278 vs 229. Of the 30 component index stocks, 11 closed positive, 18 closed negative and 1 remained unchanged. The top 5 gainer component stocks were :-
1. JMH 400US$ +0.400
2. SIA +0.060
3. Olam +0.060
4. HKLand US$ +0.050
5. Jardine C&C +0.040
The top 5 loser component stocks were :-
1. JSH 500US$ -0.220
2. DBS -0.200
3. UOB -0.180
4. KepCorp -0.100
5. Capitaland -0.090
US markets fell almost 2% yesterday night when news of GM bondholders objected the conversion, making GM towards filing of bankrupty and in additional Treasurey yield increased also caused jittering in the market despite a better than expected Existing Home Sales data. Asia bourses were pretty resilient towards that and with SSE, HSI and TSEC closed for holiday, Asia bourses were relatively directionless with Nikkei closed +0.13% and STI came off low to close -0.57%. Bank, commodity and offshore/marine stocks were under selling pressure with property stocks in particular the second liner offset the fall in STI. Investors will be looking at New Home Sales, Durable Goods Order data and the status of GM for the time being.
