Monday, January 10, 2011

Market Summary -- 10th Jan 11

FTSE STI closed 3,229.27, down 32.08 points or -0.98% with a total volume of 2.13b and a total value of S$1.67b.  Total number of advance vs decline was 191 vs 335.  Of the 30 component index stocks, 3 closed positive, 25 closed negative and 2 remained unchanged.  The 3 gainer component stocks were :-

1. JMH 400US$  +0.100
2. ComfortDelGro  +0.040
3. Olam  +0.010

The top 5 loser component stocks were :-

1. Jardine C&C  -1.060
2. UOB  -0.180
3. KepCorp  -0.180
4. DBS  -0.180
5. OCBC  -0.140

US markets pull backed last Friday when the number of jobs created was less than expected despite the unemployment rate dropped to 9.4% from 9.8%.  Investors took profit from recent run up.  Asian bourses were mostly red.  Nikkei was closed for holiday, SSE -1.66% after its trade surplus was less than expected.  HSI -0.67%.  STI initially opened in the positive region but soon subject to profit taking and tracking regional bourses closed -0.98% with only 3 of the 30 component stocks managed to close positive.  Majority of the blue chips were under selling pressure whereas penny stocks provided some resilient as investors were mostly trading on penny stocks.  US will commence its earning season tonight with Aloca reporting its earning, Intel and JP Morgan will also be reporting this week.  Singapore earning season starts on Friday with SPH releasing its result.  STI immediate support is around the 3,200 - 3,220 region.