FTSE STI closed 3,033.81, down 32.10 points or -1.05% with a total volume of 1.62b and a total value of S$1.21b. Total number of advance vs decline was 117 vs 248. Of the 30 component index stocks, 7 closed positive, 2 unchanged and 21 closed negative. The top 5 gainer component stocks were :-
1. F&N +0.050
2. SIA +0.020
3. CapitaMall +0.010
4. NobleGrp +0.010
5. SIA Engg +0.010
The top 5 loser component stocks were :-
1. JMH 400US$ -1.900
2. Jardine C&C -1.550
3. JSH 500US$ -1.160
4. UOB -0.390
5. KepCorp -0.160
US markets fell at least 0.80% yesterday after IMF cut global growth target. Asian bourses were mostly negative for the day with Nikkei -1.98%, SSE +0.22% and HSI -0.08%. STI fell 1.05%, dropping 3 days in a row of total at least 2.3% in moderate volume. Only 7 of the 30 index stocks managed to register positive closing.
Alcoa released a better than expected set of earning but cut forecast after US market close to kick start the earning season. The cutting of growth target from IMF weighed in on investors at the moment. However, do note that for the past 3 months global economy was slow and for IMF to lower the target growth is not something out of the blue or surprised at. Investors should not start panicking but rather focus on the fundamental of the stock and bargain hunting opportunity should surface.
