Market Summary -- 1st Mar 11

FTSE STI closed 3,067.60, up 57.09 points or +1.90% with a total volume of 1.63b and a total value of S$1.82b.  Total number of advance vs decline was 415 vs 116.  Of the 30 component index stocks, 28 closed positive, 1 closed negative and 1 remained unchanged.  The top 5 gainer component stocks were :-

1. JMH 400US$  +0.620

2. Jardine C&C  +0.440

3. KepCorp  +0.420

4. UOB  +0.340

5. DBS  +0.240

The only loser component stock was :-

1. ComfortDelGro  -0.010

US markets moved up yesterday night after one of Fed member bullish comment on the economy coupling with oil price pulling back.  Asian bourses took the cue and traded on the positive side for the day with Nikkei closed +1.22%, SSE +0.47% and HSI +0.25% ( despite being drag down by HSBC due to earning missing expectation ).  STI rocketed +1.90% in line with regional bourses with 28 of the 30 component stocks closed positive led by bargain hunting.  STI closed above the 3,040 level for the time being.  Though strongly rebound, STI still trading within the range of 2,920 - 3,040 and 3,040 - 3,120.  Market might have hit the bottom last week and what investors need to monitor now is for any pull back any sign of higher low being achieved during the pull back.