FTSE STI closed 2,963.19, down 24.91 points or -0.83% with a total volume of 2.33b and a total value of S$1.39b. Total number of advance vs decline was 208 vs 299. Of the 30 component index stocks, 6 closed positive, 21 closed negative and 3 remained unchanged. The top 5 gainer component stocks were :-
1. CityDev +0.180
2. UOB +0.040
3. SPH +0.030
4. OCBC +0.020
5. SMRT +0.010
5. CapMallsAsia +0.010
The top 5 loser component stocks were :-
1. Jardine C&C -1.800
2. JMH 400US$ -1.180
3. JSH 500US$ -0.520
4. SIA -0.160
5. KepCorp -0.140
US markets pulled back at least 0.5% yesterday night due to bigger-than-expected drop in consumer credit weighed, along with comments from Fed officials over how to deal with economic concerns such as debt, inflation. Asia bourses took the cue and traded in the negative region for the day. Nikkei closed -1.10%, SSE -0.94% and HSI -0.28%. STI finding support at 2,950 at the meantime rebound from there and closed 2,963.19, down 0.83% with blue chips under profit taking and selling pressure. The Jardine group led the drop. Meanwhile, penny stocks remained resilient as retail investors all focusing on the pennies. In general markets are awaiting for next week the start of earning season.
