Market Summary -- 9th Feb 11

FTSE STI closed 3,150.56, down 34.80 points or -1.09% with a total volume of 1.42b and a total value of S$1.94b.  Total number of advance vs decline was 133 vs 355.  Of the 30 component index stocks, 4 closed positive, 25 closed negative and 1 remained unchanged.  The top 4 gainer component stocks were :-

1. SIA Engg  +0.030

2. CapMallsAsia  +0.010

3. StarHub  +0.010

4. GoldenAgr  +0.050

The top 5 loser component stocks were :-

1. Jardine C&C  -0.660

2. JSH 500US$  -0.560

3. UOB  -0.340

4. CityDev  -0.300

5. SIA  -0.200

US markets continued to move up for 7 days in a row despite China raise interest rate yesterday.  Asian bourses however were reacting to China raising interest rate with all trading in negative region.  Nikkei closed -0.17%, SSE -0.89% and HSI -1.36%.  STI hit an intra-day low of 3,135.40 before rebound to close at 3,150.56 down 1.09% with property stocks taking the selling pressure.  Only 4 of the 30 component stocks managed to register a positive closing.  STI is now supporting at the multi-tested support level of 3,120.