FTSE STI closed 2,522.78, down 44.94 points or -1.75% with a total volume of 2.56b and a total value of S$1.68b. Total number of advance vs decline was 162 vs 350. Of the 30 component index stocks, 1 closed positive, 27 closed negative and 2 remained unchanged. The only positive component stock was :-
1. SIA +0.080
The top 5 loser component stocks were :-
1. JMH 400US$ -1.380
2. JSH 500US$ -1.040
3. UOB -0.420
4. SGX -0.210
5. Wilmar -0.190
US markets rebound on average 1% after a string of better than expected reports from retailers and after market closed, HP also announced a better than expectation earnings. Asia markets initially opened in the positive region in reaction to the rebound on US but soon fell into the negative region after SSE slided at least 4% with worry of China Government is not coming in to support the market. Nikkei closed -0.79%, SSE -4.31% and HSI -1.73%. STI closed near intra-day low with a -1.75% drop with only 1 index stock managed to close in the positive. Investors will be looking at US tonight on how it will react to the more than 4% drop in SSE.
