Market Summary -- 14th Jul 11

FTSE STI closed 3,088.70, up 0.28 points or +0.01% with a total volume of 1.09b and a total value of S$890M.  Total number of advance vs decline was 170 vs 288.  Of the 30 component index stocks, 11 closed positive, 17 closed negative and 2 remained changed.  The top 5 gainer component stocks were :-

1. JMH 400US$  +1.360

2. JSH 500US$  +0.240

3. Wilmar  +0.060

4. SIA  +0.040

5. F&N  +0.040

The top 5 loser component stocks were :-

1. Jardine C&C  -0.430

2. CityDev  -0.080

3. HKLand US$  -0.070

4. SGX  -0.040

5. SIA Engg  -0.030

5. KepCorp  -0.030

US markets closed positive yesterday night with at least 0.4% gain but were pared off its gain after Moody's indicated that they will review on US rating if the debt ceiling cannot get increased by 2nd Aug 2011.  That comment offset US Fed's comment of further stimulus is available if US economy still unable to recover.  Asian bourses were range bound and closed mixed.  Nikkei closed -0.27%, SSE +0.54% and HSI +0.06%.  STI was flat at 3,088.70.  In the morning MTI announced 2Q GDP came in at -7.8% shrank more than expected.  This has taken off some sentiment from the stock market.  Investors will be closely monitor the situation of US debt ceiling, European debt and corporate earnings at the moment.