FTSE STI closed 2,639.74, down 41.29 points or -1.54% with a total volume of 2.40b and a total value of S$1.79b. Total number of advance vs decline was 118 vs 452. Of the 30 component index stocks, 3 closed positive, 24 closed negative and 3 remained unchanged. The 3 gainer component stocks were :-
1. JMH 400US$ +1.800
2. JSH 500US$ +0.040
3. NOL +0.030
The top 5 loser component stocks were :-
1. CityDev -0.840
2. SIA -0.500
3. Jardine C&C -0.300
4. HKLand US$ -0.190
5. DBS -0.180
5. KepCorp -0.180
US markets closed in the negative last Friday and with news between US-China trade causing tension, Asia bourses were under selling pressure since the start of the day with exception of SSE. Nikkei closed -2.32%, SSE +1.24% and HSI -1.08%. STI was traded rangebound in the negative region for the day tracking other bourses across the region. The selling pressure increased for property stocks in the afternoon after Minister of Development Mr Mah Bow Tan announced new measure to tighten housing loan with effect from today to cool off speculation in property market. The bearish sentiment coupling with negative DJ future, European bourses opened in the red and weak closing of other regional bourses caused STI to close -1.54%.
