Market Summary -- 29th Jul 11

FTSE STI closed 3,189.26, down 0.59 points or -0.02% with a total volume of 1.75b and a total value of S$1.90b.  Total number of advance vs decline was 194 vs 319.  Of the 30 component index stocks, 13 closed positive, 14 closed negative and 3 remained unchanged.  The top 5 gainer component stocks were :-

1. DBS  +0.200

2. OCBC +0.100

3. HKLand US$  +0.090

4. CityDev  +0.060

5. Wilmar  +0.050

5. F & N  +0.050

5. UOB  +0.050

5. SingTel  +0.050

The top 5 loser component stocks were :-

1. JMH 400US$  -1.690

2. JSH 500US$  -0.700

3. SIA  -0.550

4. Jardine C&C  -0.540

5. SembCorp  -0.070

US markets closed mixed yesterday with good news of jobless claim dropped below 400,000 level but failed to offset the US debt ceiling concern as the House vote was again delayed.  Asian bourses were mostly in negative region for the day as patience is running out on when the US debt ceiling issue can be resolved.  Nikkei closed -0.69%, SSE -0.26% and HSI -0.58%.  STI closed relatively flat for the day as investors are divided between good corporate earnings and concern on the US debt ceiling.  Investors will be looking over the weekend to see any resolution can be done as deadline of 2nd August 2011 is just days away from US being default.