Market Summary -- 13th Jul 11

FTSE STI closed 3,088.42, up 11.06 points or +0.36% with a total volume of 1.29b and a total value of S$1.06b.  Total number of advance vs decline was 311 vs 164.  Of the 30 component index stocks, 17 closed positive, 10 closed negative and 3 remained unchanged.  The top 5 gainer component stocks were :-

1. UOB  +0.220

2. SGX  +0.100

3. Capitaland  +0.070

4. SembCorp  +0.060

5. KepCorp  +0.050

5. CityDev  +0.050

5. SembMar  +0.050

5. SingTel  +0.050

The top 5 loser component stocks were :-

1. JMH 400US$  -0.060

2. HKLand US$  -0.060

3. Jardine C&C  -0.050

4. Olam  -0.030

5. Wilmar  -0.030

US markets closed down average 0.5% yesterday night in the later part of the day after Moody downgraded Ireland's debt to junk rating.  A better than expected trade surplus and US Fed's comment on stimulus has brought some positive sentiment to the market in the earlier part of the day.  Asian bourses managed to rebound from yesterday sell off and closed positive.  Nikkei closed +0.37%, SSE +1.48% after a better than expected 2Q GDP of +9.5% easing concern of hard landing for its economy.  HSI +1.22%.  STI in line with regional bourses closed +0.36% with 17 of the index stocks registered positive closing due to bargain hunting.  A positive DJ future and European bourses opening also supported the sentiment.  STI with resistance at 3,120 appears to be supporting at the 3,050 level.