Friday, July 1, 2011

Market Summary -- 1st Jul 11

FTSE STI closed 3,139.01, up 18.57 points or +0.59% with a total volume of 1.10b and a total value of S$993M.  Total number of advance vs decline was 252 vs 185.  Of the 30 component stocks, 23 closed positive, 4 closed negative and 3 remained unchanged.  The top 5 gainer component stocks were :-

1. JSH 500US$  +1.060
2. Jardine C&C  +0.980
3. UOB  +0.180
4. DBS  +0.140
5. KepCorp  +0.100
5. OCBC  +0.100

The 4 loser component stocks were :-

1. JMH 400US$  -1.320
2. StarHub  -0.040
3. ST Engg  -0.010
4.  Genting SP  -0.010

US markets advanced at least 1% yesterday night after the second round of Geek Parliament got through, a better than expected PMI data, jobless claim fell and couple with 1H2011 window dressing by fund managers.  Asian bourses started 2H2011 mostly in positive region.  Nikkei closed +0.53% despite Tanka data sunk to -9, SSE -0.10% and HSI was closed for holiday.  STI advanced 0.59% with 23 of the 30 index stocks register a positive closing with bank stocks leading the up.  STI immediate support at 3,120 and next 3,080.  Immediate resistance is at 3,150.  With Euro debt issue probably clearing off investors minds, investors will be focusing on corporates earning which start middle of July.

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