FTSE STI closed 3,097.43, down 31.97 points or -1.02% with a total volume of 2.04b and a total value of S$1.13b. Total number of advance vs decline was 179 vs 261. Of the 30 component index stocks, 5 closed positive, 2 unchanged and 23 in the red. The 5 gainer component stocks were :-
1. Semb Corp +0.050
2. Olam +0.025
3. Capitaland +0.020
4. GLP +0.010
5. GoldenAgr +0.005
The top 5 loser component stocks were :-
1. JMH 400US$ -0.960
2. JSH 500US$ -0.920
3. UOB -0.420
4. Jardine C&C -0.400
5. SIA -0.200
5. DBS -0.200
US markets fell yesterday and Asian bourses were again on the selling mode for the day. Nikkei -2.59%, SSE -0.17% and HSI -1.65%. STI tracking regional bourses fell 1.02% in moderate volume and value than yesterday. Only 5 of the 30 index stocks managed to register positive closing.
The reason citing for the selling was none other than concern of China economy and Ukraine issue. Chinese economy growth issue is in general a mindset issue as majority still view China as the emerging country few years ago. The undergoing reform which lead to slower growth largely has been ignored (or rather refuse to accept the fact). As for Ukraine issue, just have to wait till end of this week to have a clearer picture.
STI fell mainly due to the drop in the blue chips. Broader market still in those range bound mode despite the drop. Unless some unexpected event occurs else the broader market is unlikely to break down in the short-term. The longer term still biased towards upside.
