FTSE STI closed 2,740.33, down 71.38 points or -2.54% with a total volume of 2.81b and a total value of S$2.37b. Total number of advance vs decline was 64 vs 603. Of the 30 component index stocks, 1 closed positive and 29 closed negative. The only gainer component stock was :-
1. JMH 400US$ +0.200
The top 5 loser component stocks were :-
1. Jardine C&C -0.940
2. UOB -0.580
3. DBS -0.480
4. SIA -0.240
5. CityDev -0.240
US markets rebound yesterday night but that doesn't stop the selling pressure in Asia bourses today. News of China bank curb lending for the rest of the month coupling with Obama's bank restructuring plan still weighing heavily on investors as investors sold down blue chips. Nikkei closed -1.78%, SSE -2.42% and HSI -2.38%. STI sank to day low breaking the 2,800 and 2,750 levels with a drop of 71.38 points with only 1 index component managed to close in the positive. US Fed meeting will commence tonight and would expect US Fed to maintain low interest rate for the time being and investors are awaiting of the detail of Obama's bank restructuring and also will the current Fed chief be re-appointed the second term.
