Market Summary -- 26th Jul 11

FTSE STI closed 3,186.57, up 15.02 points or +0.47% with a total volume of 1.39b and a total value of S$1.16b.  Total number of advance vs decline was 345 vs 169.  Of the 30 component index stocks, 20 closed positive and 10 closed negative.  The top 5 gainer component stocks were :-

1. Jardine C&C  +1.190

2. JSH 500US$  +1.080

3. UOB  +0.250

4. SembMar  +0.110

5. SIA  +0.090

The top 5 loser component stocks were :-

1. SIA Engg  -0.230

2. HKLand US$  -0.040

3. ST Engg  -0.030

4. GLP  -0.030

5. SGX  -0.020

5. Olam  -0.020

US markets fell at least 0.5% yesterday as the no agreement between the Republicans and the Democrates on the debt ceiling weighed on market.  Asian bourese however managed to rebound from yesterday selling down perhaps anticipating the resolution on the debt ceiling could be settled within this week.  Nikkei closed +0.47%, SSE +0.53% and HSI +1.25%.  STI with the help of the blue chips closed +0.47% with 20 of the index stocks registered positive closing.  Market is at the cross road at the moment with the US debt ceiling dictating the direction.  On one hand strong corporate earning suggesting market can move up but the debt ceiling capping the movement.