FTSE STI closed 2,694.50, down 22.12 points or -0.81% with a total volume of 1.52b and a total value of S$1.26b. Total number of advance vs decline was 117 vs 408. Of the 30 component index stocks, 2 closed positive, 26 closed negative and 2 remained unchanged. The 2 gainer component stocks were :-
1. SembCorp +0.030
2. ST Engg +0.020
The top 5 loser component stocks were :-
1. Jardine C&C -0.420
2. JMH 400US$ -0.320
3. CityDev -0.220
4. SIA -0.180
5. Capitaland -0.130
US markets fell average 1% yesterday night after an intra-day sell down offsetting an initial rebound. The reason was fear of debt in the financial sectors. Asia bourses were trading in the negative for the day. Nikkei closed -1.45%, SSE -2.83% and HSI -1.86%. STI was inline with other regional bourses trading in the negative region swinging between the 2,700 level. Blue chips were under selling pressure which resulted in STI closed down 22.12 points. Market in general lack the required catalyst to push up further despite the better than expected corporate earnings. OCBC will be the first local bank to announce its earning tomorrow and investors will be looking at the health of our banks in economy recovery.
