Thursday, June 16, 2011

Market Summary -- 16th Jun 11

FTSE STI closed 3,020.13, down 34.69 points or -1.14% with a total volume of 1.08b and a total value of S$1.34b.  Total number of advance vs decline was 94 vs 408.  Of the 30 component index stocks, 26 closed negative and 4 remained unchanged.  The top 5 loser component stocks were :-

1. Jardine C&C  -1.500
2. UOB  -0.300
3. JMH 400US$  -0.240
4. CityDev  -0.220
5. KepCorp  -0.200
5. JSH 500US$  -0.200

US markets fell on average 1.5% yesterday night gave back all the day the previous day as Greece's debt weighed heavily on investors.  Furthermore, reports that US funds were withdrawing from US markets as investors concern on the economic growth.  Asian bourses took the cue and were traded in negative region for the day.  Nikkei closed -1.70%, SSE -1.52% and HSI -1.75%.  STI in line with regional bourses closed -1.14% with 26 of the component stocks closed in the red and none managed to register a gain.  STI hit an intra-day low of 3,011 before closing at 3,020.13.  European bourses opened with almost 1% drop also weighed on investors.  Investors are now awaiting to see Greece's issue when can be resolved to prevent Greece from being default.