FTSE STI closed 3,046.68, down 20.45 points or -0.67% with a total volume of 2.04b and a total value of S$2.76b. Total number of advance vs decline was 144 vs 253. Of the 30 component index stocks, 11 closed positive, 4 unchanged and 14 closed negative. The top 5 gainer component stocks were :-
1. JSH 500US$ +0.190
2. JMH 400US$ +0.100
3. SembCorp +0.040
4. SIA +0.030
5. Capitaland +0.020
5. CapMallsAsia +0.020
The top 5 loser component stocks were :-
1. Jardine C&C -0.750
2. SGX -0.280
3. UOB -0.160
4. SingTel -0.130
5. DBS -0.120
US markets fell average 1% last night easing all the positive gain from the better than expected economic data after one of US Fed President citing QE3 to be ineffective. Asian bourses without any doubts were all in selling mode. Nikkei -2.03%, SSE -1.24% and HSI -0.83%. STI managed to do slightly better than regional bourses with a 0.67% drop in heavy volume. 11 of the 30 index stocks managed to register positive closing.
It was a waking up call to reality when one of US Fed President saying QE3 to be ineffective. Nothing to be surprised of and for those who believe in QE3 that is a reality call. Time to wake up from dreamland !!!. Other than that, nothing much has changed.
STI today was dominated by the news o f Temasek selling SingTel at $3.20. That news dragged SingTel down by 13 cents and contributed at least half of the STI index drop. So without the SingTel drop, STI might even fare better. The high volume and value for today were mainly contributed by SingTel also. Nothing to be alarmed of. Singapore also reported its August manufacturing output data coming in -2.2% vs expected of +1.0%. That data didn't help the sentiment either especially when investors after realizing (finally) QE3 is "useless".
Well not all are doom news, window dressing for 3Q has started today on selective stocks. Pointed out yesterday that today will be the day to determine which are the stocks going for 3Q window dressing and these stocks will continue to window dress till Friday.
