Market Summary -- 11th Jul 11

FTSE STI closed 3,117.37, down 33.91 points or -1.08% with a total volume of 1.12b and a total value of S$1.19b.  Total number of advance vs decline was 148 vs 359.  Of the 30 component index stocks, 2 closed positive, 27 closed negative and 1 remained unchanged.  The 2 gainer component stocks were :-

1. Wilmar  +0.100

2. SIA Engg  +0.020

The top 5 loser component stocks were :-

1. JMH 400US$  -1.440

2. JSH 500US$  -1.250

3. Jardine C&C  -0.550

4. CityDev  -0.240

5. SGX  -0.180

US markets closed down at least 0.4% last Friday after a very disappointing employment data whereby unemployment rate increased to 9.2% as number of job added for the month of June was only 18,000.  Over the weekend, China reported June inflation of 6.4% exceeding analysts expectation and a better than expected trade surplus.  Asian bourses were mostly under selling pressure in reaction to those data.  Further concern of European debts spreading to Italy also weighed on investors.  Nikkei closed -0.67%, SSE +0.18% and HSI -1.67%.  STI closed -1.08% with only 2 of the index stocks managed to registered a positive closing.  Negative opening of European bourses and DJ future also weighed on investors who selling off taking profit from last week gain and stay cautious.  STI fell below the 3,120 support and the next support will be 3,080.