Market Summary -- 9th Jun 11

FTSE STI closed 3,097.57, down 5.41 points or -0.17% with a total volume of 1.15b and a total value of S$1.03b.  Total number of advance vs decline was 187 vs 230.  Of the 30 component index stocks, 8 closed positive, 18 closed negative and 4 remained unchanged.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.360

2. SIA  +0.220

3. JMH 400US$  +0.160

4. OCBC  +0.050

5. SembCorp  +0.040

The top 5 loser component stocks were :-

1. CityDev  -0.080

2. KepCorp  -0.060

3. DBS  -0.060

4. SembMar  -0.040

5. UOB  -0.040

US markets closed negative for the 6th day in a row with Nasdaq dropping at least 1% while DJ and S&P500 both around 0.3%.  The slow economy recovery still weigh on investors as US Fed Chief never mention any possibility of QE3.  Asian bourses opened in the red and closed mixed for the day.  Nikkei closed +0.19%, SSE -1.71% and HSI -0.23%.  STI flipping between positive and negative region around the 3,100 level but failed to close above that with a 0.17% drop.  8 of the 30 component stocks managed to register positive closing only.  Market as of now is bias towards the downside more given the worries over the slow economy pace.