FTSE STI closed 2,855.21, down 12.71 points or -0.44% with a total volume of 1.25b and a total value of S$1.26b. Total number of advance vs decline was 174 vs 283. Of the 30 component index stocks, 6 closed positive, 19 closed negative and 5 remained unchanged. The top 5 gainer component stocks were :-
1. CapMallsAsia +0.070
2. NobleGrp +0.030
3. HKLand US$ +0.020
4. SIA Engg +0.020
5. Genting +0.010
5. OCBC +0.010
The top 5 loser component stocks were :-
1. CityDev -0.180
2. Jardine C&C -0.180
3. UOB -0.180
4. SIA -0.160
5. JSH 500US$ -0.140
US markets pulled back at least 1% yesterday night after jobless claim and retail sales data. Asia bourses took the cue and traded in the negative region for the day with investors taking profit off for the weekend. Nikkei closed -1.49%, SSE -0.51% and HSI -1.36%. STI temporary supported at 2,850 traded in a narrow range between 2,850 to 2,880 for the day with most of the blue chips under selling pressure. With earning season coming to an end and World Cup just weeks away, investors will be cautious and mostly sideline. Market could be consolidating during this period in range bound trend as there isn't any catalyst to move the market up. Unless otherwise there is an unexpected bad news, downside for the market will be limited too. Though with the bailout out, the European debt issue still hanging over investors' mind.
