FTSE STI closed 3,130.45, down 46.73 points or -1.47% with a total volume of 1.15b and a total value of S$1.15b. Total number of advance vs decline was 120 vs 364. Of the 30 component index stocks, 4 closed positive, 24 closed negative and 2 remained unchanged. The 4 gainer component stocks were :-
1. JMH 400US$ +0.340
2. JSH 500US$ +0.320
3. SingTel +0.020
4. StarHub +0.010
The top 5 loser component stocks were :-
1. DBS -0.620
2. UOB -0.540
3. CityDev -0.460
4. SIA -0.320
5. KepCorp -0.220
US markets dropped at least 1% with commodity stocks leading the selling down. Asian bourses took the cue and investors rushing in to take profit. Nikkei closed -1.50%, SSE -1.36% and HSI -0.94%. STI also fell 1.47% after 3 days of gain with banking stocks leading the selling down. In the morning SingTel reported a miss expectation earning but the special dividend of 19cents/share allow it to close positive. In the afternoon, OCBC reported a much inline set of earning. STI now supporting at 3,120 and 3,040 while upside remained firmly capped at 3,200. Inflation and Euro zone debts are resurfacing again offsetting the corporate result.
