FTSE STI closed 2,647.91, down 24.69 points or -0.92% with a total volume of 2.18b and a total value of S$1.94b. Total number of advance vs decline was 221 vs 278. Of the 30 component index stocks, 5 closed positive, 22 closed negative and 3 remained unchanged. The 5 gainer component stocks were :-
1. JMH 400US$ +0.840
2. Wilmar +0.260
3. SIA Engg +0.030
4. SMRT +0.010
5. Olam +0.010
The top 5 loser component stocks were :-
1. JSH 500US$ -0.620
2. UOB -0.380
3. DBS -0.320
4. CityDev -0.180
5. HKLand US$ -0.120
US markets closed flat down and Asia bourses were under selling pressure when investors taking profit from past few days rally. Nikkei closed -0.70%, SSE -3.19% and HSI -0.67%. STI most of the time was traded in negative region and the selling pressure increased when SSE dropped more than 3%. Furthermore, investors are not willing to take any position over the long weekend. Banks, property, offshore/marine and commodity were being sold down. An interesting observation was during closing time, big volume were transacted causing the price to gap up or down and this could be "3Q window dressing" effect when funds adjusting their portfolio. Advise is to exercise cautious at this moment as market lacks the catalyst to move up further; that is breaking the 2,700 level and ahead of next month earning season, market might slowly drift down for consolidation prior to the start of the earning season.
