Market Summary -- 31st Jan 11

FTSE STI closed 3,179.72, down 49.97 points or -1.55% with a total volume of 1.41b and a total value of S$1.74b.  Total number of advance vs decline was 108 vs 418.  Of the 30 component index stocks, 1 closed positive, 27 closed negative and 2 remained unchanged.  The only gainer stock was :-

1. GoldenAgr  +0.005

The top 5 loser component stocks were :-

1. Jardine C&C  -1.060

2. JSH 500US$  -0.540

3. JMH 400US$  -0.380

4. CityDev  -0.380

5. KepCorp  -0.320

US markets fell at least 1% last Friday with investors selling off due to Egypt's issue, a lower than expected 4Q2010 GDP ( 3.2% ) and some missed expectation of corporate earnings.  Asian boureses also undergo selling mode with Nikkei closed -1.18%, SSE however bucked the trend with +1.38% and HSI -0.72%.  STI in a thin volume day with the blue chips under heavy selling pressure, resulting in only 1 of the component stock managed to close positive and closed -1.55% at 3,179.72.  With Egypt issue and CNY round the corner, investors were cautious and no wish to hold position over the festive seasons.