Market Summary -- 15th Feb 11

FTSE STI closed 3,080.66, down 23.76 points or -0.77% with a total volume of 1.60b and a total value of S$1.71b.  Total number of advance vs decline was 112 vs 430.  Of the 30 component index stocks, 3 closed positive, 20 closed negative and 7 remained unchanged.  The 3 gainer component stocks were :-

1. SIA  +0.040

2. StarHub  +0.020

3. CapMallsAsia  +0.020

The top 5 loser component stocks were :-

1. Jardine C&C  -0.500

2. JSH 500US$  -0.260

3. CityDev  -0.200

4. HKLand US$  -0.180

5. JMH 400US$  -0.140

US markets closed mixed yesterday night but on a thin volume suggesting US markets might have peaked and due for correction.  Asian bourses were mixed for the day also.  Nikkei closed +0.20%, SSE 0% after releasing January CPI and PPI.  CPI came in below market expectation but most expect China to have 1 or 2 more rate hike within 1H2011.  HSI closed -0.96%.  STI closed -0.77% with continue of funds selling.  Only 3 of the component stocks managed to close positive.  Immediate supporting at 3,050 and if that failed to hold, next level would be around the 2,980 region.