Market Summary -- 7th Jul 11

FTSE STI closed 3,125.87, up 11.16 points or +0.36% with a total volume of 1.27b and a total value of S$1.20b.  Total number of advance vs decline was 202 vs 271.  Of the 30 component index stocks, 18 closed positive, 9 closed negative and 3 remained unchanged.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.930

2. DBS  +0.250

3. SembCorp  +0.160

4. CityDev  +0.130

5. UOB  +0.110

The top 5 loser component stocks were :-

1. JMH 400US$  -0.660

2. JSH 500US$  -0.160

3. SembMar  -0.070

4. Olam  -0.020

5. SingTel  -0.010

5. SGX  -0.010

5. NOL  -0.010

5. Genting SP  -0.010

US markets recovered from early loss to close positive after China hike interest rate and a slower than expected services sector economic data.  Asian bourses reaction to China rate hike were mixed probably already factored in as it was widely expected.  Nikkei closed -0.11%, SSE -0.58% and HSI +0.06%.  STI managed to recover from 3,120 support to close +0.36% with 18 out of 30 index stocks registered a positive closing.  Investors now will be focusing on this Friday US employment data and next week earning season.  Immediate resistance for STI will be at 3,165.