Market Summary -- 15th Mar 12

FTSE STI closed 3,025.84, down 0.56 points or -0.02% with a total volume of 1.28b and a total value of S$1.10b. Total number of advance vs decline was 137 vs 222.  Of the 30 component index stocks, 17 closed positive, 1 remained unchanged and 12 closed negative.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.520

2. JSH 500US$  +0.230

3. SembMar  +0.040

4. StarHub  +0.040

5. UOB  +0.030

5. SGX  +0.030

The top 5 loser component stocks were :-

1. DBS  -0.090

2. KepCorp  -0.060

3. OCBC  -0.060

4. JMH 400US$  -0.050

5. CapitaMall  -0.035

US markets closed mixed yesterday night with S&P500 in the red while DJ and Nasdaq posted gain.  Markets in general were directionless after the rally the day before due to the Fed banks stress test as investors taking time to digest the strength of the market.  Asian bourses were mixed for day with Nikkei closed +0.76%, SSE -0.73% after news of foreign investment dropped and HSI +0.21%.  STI swinging between positive and negative in pretty much uncertain as investors looking for cue of what's next.  STI closed -0.02% in thin volume with 17 of the 30 index stocks registered gain. 

Profit taking for yesterday ran up and waiting to see more direction from US markets held back the buying from investors in STI.  While in general, market is relatively not expensive but running up too fast to overrun the fundamental is never a wise choice at the moment.  Hence, never be overly optimistic nor pessimistic at the moment but rather cautiously optimistic mainly due to the improving in global economic fundamental.