Market Summary -- 14th Feb 11

FTSE STI closed 3,104.42, up 27.15 points or +0.88% with a total volume of 1.16b and a total value of S$1.52b.  Total number of advance vs decline was 271 vs 210.  Of the 30 component index stocks, 20 closed positive, 7 closed negative and 3 remained unchanged.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.860

2. UOB  +0.320

3. HKLand US$ +0.290

4. SIA  +0.220

5. KepCorp  +0.180

5. DBS  +0.180

The top 5 loser component stocks were :-

1. JMH 400US$  -0.180

2. F&N  -0.020

3. CapitaMall  -0.010

4. Genting SP  -0.010

5. StarHub  -0.010

5. SMRT  -0.010

US markets closed positive last Friday in reaction to Egypt's President stepping down immediately.  Asian bourses also responded with positive showing for the day rebounding from last week sold down.  Nikkei closed +1.13%, SSE +2.54% after report that its surplus for Jan came in lower than expected.  HSI +1.28%.  STI managed to rebound to above 3,100 for the day as bargain hunting on the sold down blue chips lifted the index past 3,100 level.  Investors are looking at this Friday Singapore budget.  Though STI rebounded, there is still trace of funds selling in particular to those defensive stocks and S-Reits.  Market could be range bound until the funds are fully finish selling.