FTSE STI closed 2,545.98, down 85.53 pounts or -3.25% with a total volume of 2.34b and a total value of S$1.73b. Total number of advance vs decline was 105 vs 520. All the 30 component index stocks closed in the negative. The top 5 loser component stocks were :-
1. Jardine C&C -1.500
2. JSH 500US$ -0.600
3. CityDev -0.470
4. UOB -0.400
5. SIA -0.380
US markets closed down last Friday due to weak consumer sentiment data. Asia bourses reacted to it with heavy selling for the day. All bourses closed in the negative with Nikkei -3.10% ( despite GDP showed Japan is out of recession ), SSE -5.79% and HSI -3.62%. The weak closing of Asia bourses coupled with negative opening of European markets and DJ future also sank STI to close -3.25% with all the 30 component index stocks all ended in the red. Investors are taking profit after the recent run up as earning season comes to an end and investors are looking at economic data for direction of the market.
