Friday, June 24, 2011

Market Summary -- 24th Jun 11

FTSE STI closed 3,066.85, up 22.13 points or +0.73% with a total volume of 994M and a total value of S$1.09b.  Total number of advance vs decline was 314 vs 128.  Of the 30 component index stocks, 22 closed positive, 4 closed negative and 4 remained unchanged.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.460
2. SIA  +0.320
3. CityDev  +0.280
4. KepCorp  +0.140
5. Capitaland  +0.100

The 4 loser component stocks were :-

1. JSH 500US$  -0.200
2. UOB  -0.180
3. Wilmar  -0.050
4. StarHub  -0.020

US markets closed mixed yesterday night with Nasdaq closing positive while DJ and S&P500 both in the red.  However, markets recovered from at least 1% drop in the opening as news of Greek's deal looking at the correct direction.  Furthermore, IEA also tapped on the oil reserve to ease the supply.  This move caused crude oil price pull back.  Such a move help to ease the inflation problem facing emerging countries.  The intra-day reversal encouraged Asian bourses and stocks move up about 1%.  Nikkei closed +0.85%, SSE +2.16% after Wen Jiabao commented that China inflation is under control and HSI +1.90%.  STI in line with regional bourses rose 0.73% in a thin volume day with bargain hunting coming in.  22 out of 30 index stocks registered positive closing.  A positive DJ future and strong European bourses opening of at least 1% also help the sentiment.