Market Summary -- 10th Mar 11

FTSE STI closed 3,075.44, down 17.46 points or -0.56% with a total volume of 997M and a total value of S$1.04b.  Total number of advance vs decline was 140 vs 297.  Of the 30 component index stocks, 5 closed positive, 21 closed negative and 4 remained unchanged.  The 5 gainer component stocks were :-

1. UOB  +0.060

2. Jardine C&C  +0.060

3. NOL  +0.020

4. ComfortDelGro  +0.010

5. OCBC  +0.010

The top 5 loser component stocks were :-

1. KepCorp  -0.180

2. CityDev  -0.140

3. HKLand US$  -0.080

4. NobleGrp  -0.070

5. F&N  -0.060

US markets were flat yesterday night weighing down by semiconductor stocks and continuous concern of middle east unrest.  NATO will be holding a meeting today to discuss more measures including a non-fly zone on Libya to stop the civil war.  Asian bourses were all traded in negative region with couple of events weighing on the sentiment.  Middle east unrest, an unexpected trade deficit by China in February, China inflation data to be released tomorrow, oil price and the Euro-zone debt might resurface again with Spain rating being downgraded.  Nikkei closed -1.46%, SSE -1.50% and HSI -0.82%.  Investors continued to take profit from offshore/marine stocks weighing down STI index with only 5 of the index stocks managed to close positive.  Today volume was lowest so far with less than 1 billion done.  After market close, STI index review committee announced that GLP will be replace SMRT as index stock with effect from 18th March 2011.  Investors will be watching for the outcome of NATO's decision on Libya.