FTSE STI closed 3,300.68, down 38.16 points or -1.14% with a total volume of 1.77b and a total value of S$1.39b. Total number of advance vs decline was 141 vs 304. Of the 30 component index stocks, 3 closed positive, 4 unchanged and 23 in the red. The 3 gainer component stocks were :-
1. CapitaMall +0.030
2. ComfortDelGro +0.010
3. StarHub +0.010
The top 5 loser component stocks were :-
1. JSH USD -0.880
2. Jardine C&C -0.400
3. SIA -0.370
4. UOB -0.360
5. SGX -0.200
5. JMH USD -0.200
US markets fell for the 5th day in a row after series of events. Asian bourses were mixed with mostly in the red. Nikkei -1.43%, SSE +1.23% and HSI -1.02%. STI in line with regional bourses fell 1.14% in slightly higher volume and value with only 3 of the 30 index stocks posted gain.
Swiss Central Bank decided to abandon its currency cap caught everyone off guard and unsettled global stock markets. The overall implication of that to global economy still too early to judge but investors as the norm reacted in the panic and fear mode. Apart from that US markets fell also due to weak banks' earning which missed all expectation so far. If US economy is what everyone tipped to be strengthening why US banks' earning are on the wrong side of it ? Something to ponder about.
STI fell more than 1% to 3,300 level with the concern of the Swiss issue. O&G stocks also continued to drop with oil price gave up almost all the rebound from previous day. While global headwinds have been taking the headlight lately, Singapore corporate earning so far has been pretty much in line with expectation. Monitoring global events or news is one thing but do not ignore the basic fundamental of it.
