1. JMH 400US$ -1.910
2. Jardine C&C -1.560
3. UOB -0.650
4. JSH 500US$ -0.600
5. DBS -0.590
US markets closed mixed last Friday with a better than expected unemployment data but endure a volatile session whereby DJ swing a 400 points. After market closed, S&P downgraded US crediting rating from AAA to AA+ and that caused some emergency action by global leaders to prevent a possible crash of financial market. Asian bourses fell in today trading with Nikkei closed -2.18%, SSE -3.79% and HSI -2.17%. STI in line with regional bourses closed -3.70% ahead of National Day as investors rushed to exit with worries of US might go into recession with the recent downgrade and still weak economy. STI broke the March 2011 low and with immediate support at 2,850. Technically, STI could hit 2,650 - 2,700 level whereby indicating Singapore might be entering a technical recession. All eyes will be on US Fed's action when they have the Fed meeting tomorrow to see any action is taken to prevent US economy from slipping into possible recession.
