Market Summary -- 26th May 11

FTSE STI closed 3,123.70, up 5.05 points or +0.16% with a total volume of 1.13b and a total value of S$1.06b.  Total number of advance vs decline was 210 vs 206.  Of the 30 component index stocks, 15 closed positive, 8 closed negative and 7 remained unchanged.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.260

2. UOB  +0.180

3. Olam  +0.070

4. KepCorp  +0.060

5. SGX  +0.050

The top 5 loser component stocks were :-

1. JSH 500US$  -0.240

2. JMH 400US$  -0.220

3. SIA  -0.080

4. ST Engg  -0.020

5. CityDev  -0.020

5. DBS  -0.020

US markets recovered from 3 days losing steak and managed to close at least +0.3% yesterday despite weak economic data.  Commodity stocks led the recovery.  Asian bourses were mostly positive taking cue from US markets.  Nikkei closed +1.48%, SSE -0.19% ( unable to hold on to gain ) and HSI +0.67%.  STI closed +0.16% with offshore/marine stocks leading the buying up when investors came in to bargain hunt.  In the afternoon, it was reported that Singapore April Adjusted Output Down 16.3% On Month vs -5.6% expected. This data do damped the buying sentiment.  STI just managed to crawl back above the 3,120 level and investors still remain cautious.