Market Summary -- 18th Feb 11

FTSE STI closed 3,086.92, up 4.02 points or +0.13% with a total volume of 1.41b and a total value of S$1.58b.  Total number of advance vs decline was 226 vs 223.  Of the 30 component index stocks, 16 closed positive, 12 closed negative and 2 remained unchanged.  The top 5 gainer component stocks were :-

1. Jardine C&C  +1.340

2. JSH 500US$  +0.720

3. JMH 400US$  +0.540

4. CityDev  +0.340

5.  Wilmar  +0.170

The top 5 loser component stocks were :-

1. OCBC  -0.140

2. KepCorp  -0.060

3. F&N  -0.050

4. CapMallsAsia  -0.050

5. NOL  -0.030

US markets recovered from earlier loss to close positive after a good set of manufacturing data offset unexpected rise in jobless claim.  Asian bourses were mostly positive for the day.  Nikkei closed +0.06%, SSE -0.93% and HSI +1.26%.  STI pared earlier gain when it moved above 3,100 and closed +0.13% as investors were undecisive while Singapore FM delivered the budget for FY11.  Enhancement to work fare credit, rebate on personal income tax to growth income, restored employer's CPF contribution to 16% and increase foreign labour levy were some of the measures being proposed.  STI at the moment range bound between 3,050 to 3,120 might have some big movement coming next week when investors digest of the budget over the weekend.