Market Summary -- 10th Feb 11

FTSE STI closed 3,103.39, down 47.17 points or -1.50% with a total volume of 1.46b and a total value of S$2.05b.  Total number of advance vs decline was 124 vs 408.  Of the 30 component index stocks, 2 closed positive and 28 closed negative.  The 2 gainer component stocks were :-

1. CityDev  +0.100

2. CapitaMall  +0.010

The top 5 loser component stocks were :-

1. Jardine C&C  -0.860

2. JSH 500US$  -0.780

3. JMH 400US$  -0.660

4. UOB  -0.420

5. KepCorp  -0.260

US markets closed mixed yesterday night and Asian markets were mostly down for the day.  Nikkei closed -0.11%, SSE bucked the trend +1.59% and HSI -1.97%.  STI broke the 3,120 support and hit an intra-day low of 3,096.70 before closing at 3,103.39 down 1.50%.  Funds cashing out has been the caused for past days of STI dropping.  Only 2 of the 30 component stocks managed to edge out a positive close.  The next support level for STI would be between 3,000 - 3,050 region.  Presently, have to observe when funds finish selling and how well the buyers absorb the selling.