Market Summary -- 24th Jan 11

FTSE STI closed 3,185.76, up 1.16 points or +0.04% with a total volume of 1.46b and a total value of S$1.31b.  Total number of advance vs decline was 175 vs 273.  Of the 30 component index stocks, 13 closed positive, 12 closed negative and 5 remained unchanged.  The top 5 gainer component index stocks were :-

1. JMH 400US$  +0.860

2. UOB  +0.160

3. F&N  +0.130

4. HKLand US$  +0.050

5. JSH 500US$  +0.040

5. CityDev  +0.040

5. DBS  +0.040

The top 5 loser component stocks were :-

1. Jardine C&C  -0.380

2. Wilmar  -0.130

3. KepCorp  -0.100

4. OCBC  -0.050

5. SembCorp  -0.040

5. SGX  -0.040

US markets closed mixed last Friday as investors digest on the corporate earning with BofA suffered massive profit loss offsetting a better than expected earning from GE.  Asian bourses were mainly range bound with lacking of catalysts to move up.  Nikkei closed +0.69%, SSE -0.72% with continued concern of more tightening and HSI -0.31%.  STI managed to open above the 3,200 level but failed to hold on to that and giving up almost all the gain on close, closing +0.04% with blue chips having mixed performance.  In the afternoon, Singapore Government released December CPI and that came in +4.6% above market expectation.  Concern of more tightening measures will be introduce by the Government.  A weak European markets opening also weighed on STI on close.