FTSE STI closed 2,850.98, down 42.15 points or -1.46% with a total volume of 2.27b and a total value of S$1.96b. Total number of advance vs decline was 117 vs 425. Of the 30 component index stocks, 3 closed positive, 24 closed negative and 3 remained unchanged. The 3 gainer component stocks were :-
1. JSH 500US$ +0.200
2. DBS +0.040
3. SPH +0.010
The top 5 loser component stocks were :-
1. JMH 400US$ -1.280
2. Jardine C&C -0.640
3. Wilmar -0.220
4. UOB -0.200
5. Capitaland -0.190
US markets pull back at least 1% yesterday night with banks reporting mixed result and also concern of China will tighten measures. Asia bourses were mixed with Nikkei closed +1.22%, SSE +0.22% and HSI -1.99%. China reported its 4Q2009 GDP figure to be 10.7% above expectation making 2009 GDP to be 8.7%. Investors were concerned on this above expectation data would lead to more tightening measures from China and hence selling down stocks with HSI and STI taking the hit. Blue chips led the drop as STI pulled back 42 points. Investors will be looking at tonight US Goldman Sachs earning and also its reaction to China latest GDP figure. Market has been moving up since turn of the year and a healthy pull back is definitely welcome.
