FTSE STI closed 3,289.24, down 24.37 points or -0.73% with a total volume of 2.41b and a total value of S$2.52b. Total number of advance vs decline was 210 vs 293. Of the 30 component index stocks, 9 closed positive, 18 closed negative and 3 remained unchanged. The top 5 gainer component stocks were :-
1. JMH 400US$ +1.460
2. JSH 500US$ +0.580
3. CityDev +0.180
4. KepCorp +0.160
5. SembCorp +0.070
The top 5 loser component stocks were :-
1. Jardine C&C -0.480
2. Wilmar -0.370
3. SIA -0.200
4. HKLand US$ -0.180
5. F&N -0.140
US markets closed down at least 0.5% yesterday night with financial and commodity ( metals related ) led the selling down as investors concern about the effectiveness of the QE2 and also with G20 meeting over this weekend. Focus for the G20 will be on the latest QE2 as countries in particular Asian are uncomfortable with the inflow of the hot monies. Asian bourses were mostly traded in negative region as concern of China may implement more curbs to control the inflow of the hot monies. Nikkei +1.40%, SSE -0.63% and HSI -0.85%. STI failed to hold on to the 3,300 level and closed at 3,289.24, down 0.73%. Only 9 out of the 30 component stocks closed positive as investors taking profit from recent run up. With corporate earning coming to an end this week, investors will be cautious and monitor for economic data and events for direction. Meanwhile, fund managers might also take this period to adjust their portfolio which will lead to market trading in consolidating or sideway mode prior to the possible year end rally.
