Tuesday, March 15, 2011

Market Summary -- 15th Mar 11

FTSE STI closed 2,946.08, down 84.78 points or -2.80% with a total volume of 2.23b and a total value of S$2.42b.  Total number of advance vs decline was 65 vs 610.  Of the 30 component index stocks, 29 closed negative and 1 remained unchanged.  The top 5 loser component stocks were :-

1. JMH 400US$  -0.920
2. JSH 500US$  -0.920
3. Jardine C&C  -0.800
4. SIA  -0.540
5. KepCorp  -0.460

US markets fell at least 0.5% yesterday night concerning about the Japan earthquake, tsunami and nuclear plants issue.  Asian bourses unfortunately plunged today when fear of radiation leak caused fear and panic in the markets.  Nikkei plunged 10.55%, SSE -1.41% and HSI -2.86%.  STI dropped 2.80% on a high volume with 29 component stocks closed in the red.  The reactor unit blast for past days have caused concern of radiation leak and with the Japanese Government this morning issued comment of risk of radiation risk increased, the fear has created panic in the market.  European markets also opened dropping at least 2% has not help the sentiment.  With DJ expecting to perhaps fall 2%, investors were dumping shares, staying sideline and remained cautious.  Investors are looking at whether Japan can contain the radiation leak.  According to report from IAEA, reactor unit 1, 2 and 3 are being cold shutdown status which meant under safety control but a blast in reactor unit 2 coupling with fire broke out in unit 4 this morning has created new fear.