Market Summary -- 2nd Jun 11

FTSE STI closed 3,160.60, down 12.27 points or -0.39% with a total volume of 905M and a total value of S$964M. Total number of advance vs decline was 136 vs 309.  Of the 30 component index stocks, 5 closed positive, 20 closed negative and 5 remained unchanged.  The 5 gainer component stocks were :-

1. GLP  +0.040

2. DBS  +0.040

3. JMH 400US$  +0.040

4. NobleGrp  +0.010

5. Genting SP  +0.010

The top 5 loser component stocks were :-

1. Jardine C&C  -0.600

2. CityDev  -0.100

3. F&N  -0.070

4. Wilmar  -0.070

5. SGX  -0.060

5. Olam  -0.060

5. JSH 500US$  -0.060

5. KepCorp  -0.060

US markets fell at least 2% yesterday night after series of weak economic data.  Private sector hired far less than expected number of jobs in month of April and ISM manufacturing data though still above expansion phase but drop more than expected.  This has caused investors to concern on the recovery of US economy.  Asian bourses took the cue and were traded in negative region for the day.  Nikkei closed -1.69%, SSE -1.40% and HSI -1.58%.  STI gap down with support around the 3,140 region but managed to close off the low with only -0.39% drop as compared with regional bourses of at least 1% drop.  Volume was however thin in less than 1 billion trades.  Some short-covering and cautious bargain buying helped the index to bounce off from intra-day low.  Investors are now looking at this Friday US employment data.