Market Summary -- 4th May 11

FTSE STI closed 3,113.76, down 39.81 points or -1.26% with a total volume of 1.27b and a total value of S$1.77b.  Total number of advance vs decline was 134 vs 349.  Of the 30 component index stocks, 2 closed positive and 28 closed negative.  The 2 gainer component stocks were :-

1. HKLand US$  +0.040

2. GLP  +0.010

The top 5 loser component stocks were :-

1. JMH 400US$  -1.080

2. JSH 500US$  -1.000

3. CityDev  -0.400

4. KepCorp  -0.220

5. SIA  -0.180

US markets closed mixed yesterday with DJ unchanged but S&P500, Nasdaq all ended in the red as concern of inflation coupling with fall in crude oil price and strengthening of USD ( USD carry trade ) weighed on investors.  Asian bourses were mostly down for the day with inflation concern weighing down.  Nikkei closed for holiday, SSE -2.26% and HSI -1.35%.  STI in line with regional bourses and also funds taking pre-cautious ahead of election result.  Fall in crude oil price also weighed down commodity and offshore/marine stocks while inflation concern weighed down property stocks.  STI down -1.26% with only 2 index stocks managed to register a positive closing.  STI at the moment is being supported by 3,100.  Should this level fail to support, next level will be 3,040.  Upside at the moment is being capped at 3,200.