Market Summary -- 6th May 11

FTSE STI closed 3,099.52, down 10.33 points or -0.33% with a total volume of 967M and a total value of S$1.26b.  Total number of advance vs decline was 179 vs 278.  Of the 30 component index stocks, 10 closed positive, 18 closed negative and 2 remained unchanged.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.380

2. SIA  +0.360

3. CityDev  +0.240

4. Wilmar  +0.030

5. NOL  +0.030

The top 5 loser component stocks were :-

1. UOB  -0.300

2. JMH 400US$  -0.160

3. JSH 500US$  -0.160

4. HKLand US$  -0.150

5. DBS  -0.120

US markets closed down at least 0.5% as unexpected jump of jobless claims and falling crude oil price ( below US$100 ) sent the market down with commodity stocks leading the fall.  Asian bourses took the cue and traded in negative region for the day.  Nikkei closed -1.45%, SSE -0.30% and HSI -0.44%.  STI fell below 3,100 level with some support at 3,080 in a very thin volume day ( less than 1 billion ) as investors staying cautious ahead of tonight US employment data and polling day ( 7th May ).  During lunch time, UOB reported a miss expectation earning and that weighed down the stocks.  While most don't expect the outcome of the election has any long term impact on the stock market, short-term knee-jerk reaction is possible.