FTSE STI closed 2,921.44, down 34.50 points or -1.17% with a total volume of 1.31b and a total value of S$1.36b. Total number of advance vs decline was 178 vs 270. Of the 30 component index stocks, 7 closed positive, 4 unchanged and 19 in the red. The top 5 gainer component stocks were :-
1. CityDev +0.040
2. StarHub +0.040
3. Noble +0.025
4. Ascendas Reit +0.020
5. ST Engg +0.020
The top 5 loser component stocks were :-
1. JMH USD -0.800
2. JSH USD -0.390
3. UOB -0.370
4. Jardine C&C -0.340
5. DBS -0.250
US markets closed mixed and flat last Friday but Asian bourses were mostly in the red with Nikkei -1.28%, SSE -0.78% and HSI +0.27%. STI opened positive but failed to hold on to the gain and closed -1.17% in thinner volume and value than past days with only 7 of the 30 index stocks posted gain.
US markets were flat as investors digest the recent volatile markets awaiting for more clues from US Fed during the weekend Jackson Hole summit concern about rate hike. Again, another set of confusing signal from US Fed as they do not rule out rate hike in September. With confusing signals from US Fed and investors awaiting for tomorrow China official PMI data which should be showing contraction and this Friday US non-farm payroll data, Asian investors were on cautious mode. Lack of bargain hunting also failed to support the markets.
STI opened brightly but as regional markets were mostly down, the selling sentiment continued resulting in a negative closing with the index unable to clear the 3,000 level and struggling to find a support at the 2,950 level too. Beware of more volatile market ahead !
This will be the last write up on Market Summary as the blog will next solely focus on Portfolio Analysis, Stocks Analysis and Market Analysis.
