Market Summary -- 25th May 11

FTSE STI closed 3,118.65, up 5.56 points or +0.18% with a total volume of 1.23b and a total value of S$1.27b.  Total number of advance vs decline was 187 vs 242.  Of the 30 component index stocks, 11 closed positive, 12 closed negative and 7 remained unchanged.  The top 5 gainer component stocks were :-

1. JMH 400US$  +0.520

2. DBS  +0.080

3. KepCorp  +0.080

4. Wilmar  +0.030

5. GLP  +0.020

5. SembMar  +0.020

The top 5 loser component stocks were :-

1. Jardine C&C  -0.240

2. JSH 500US$  -0.220

3. SIA Engg  -0.050

4. UOB  -0.040

5. OCBC  -0.040

US markets continued to close negative yesterday night despite a better than expected new home sales data as concern on economic growth and Europe's debts weighed on investors.  Asian bourses were relatively flat for the day and closed mixed.  Nikkei closed -0.57%, SSE -0.91% and HSI +0.07%.  STI struggled between positive and negative, at one time fell below 3,100 but managed to recover and close at 3,118.65, day high with immediate resistance at 3,200.  Bargain hunting helped to support the index.  There might be a possible month end window dressing next week with funds dressing for their portfolio before the June holiday.  Some cautious buying were detected in particular on the blue chips.