FTSE STI closed 3,281.09, down 32.33 points or -0.98% with a total volume of 2.30b and a total value of S$1.37b. Total number of advance vs decline was 155 vs 303. Of the 30 component index stocks, 1 closed positive and 29 in the red. The only gainer component stock was :-
1. Wilmar +0.010
The top 5 loser component stocks were :-
1. JSH USD -0.500
2. Jardine C&C -0.300
3. UOB -0.220
4. CityDev -0.160
5. SGX -0.140
US markets fell at least 0.5% yesterday and Asian bourses were mostly negative for the day with Nikkei -0.10%, SSE -1.68% and HSI +0.62%. STI continued the drop from yesterday with another -0.98% closing in higher volume and value than yesterday with only 1 of the 30 index stocks posted gain.
The sharp sell off from China stock market and slump in commodity price pulled US markets lower yesterday. Asian markets continued the weak sentiment from yesterday with SSE suffered another 1.68% drop as investors face with 2 uncertainties: the sharp drop in China stock markets and US Fed decision on interest rate hike this week. Chinese regulator meanwhile has launched investigation on yesterday share-dumping that caused SSE to plunge more than 8%.
STI with the global weak lead suffered another day of selling down across the board. Most of the dumping as usual was from foreign broker houses. Why ? As usual, they read the market wrongly again. A rebound should be coming the way given that the past 2 days of selling off got nothing much to do with the overall fundamental of Singapore economy.
