Market Summary -- 8th Jul 11

FTSE STI closed 3,151.28, up 25.41 points or +0.81% with a total volume of 1.67b and a total value of S$1.45b.  Total number of advance vs decline was 390 vs 142.  Of the 30 component index stocks, 23 closed positive, 5 closed negative and 2 remained unchanged.  The top 5 gainer component stocks were :-

1. Jardine C&C  +2.160

2. JMH 400US$  +0.860

3. F&N  +0.130

4. Capitaland  +0.120

5. CityDev  +0.110

The 5 loser component stocks were :-

1. SembCorp  -0.080

2. JSH 500US$  -0.080

3. ComfortDelGro  -0.015

4. GLP  -0.010

5. NOL  -0.005

US markets continued the advance after a drop in jobless claim and ADP job number was better than expected.  Asian bourses taking the cue with anticipation of better employment data tonight closed in positive region.  Nikkei closed +0.66%, SSE +0.13% and HSI +0.87%.  STI in line with regional bourses closed +0.81% with 23 of the index stocks registered positive closing led by property and banking stocks.  Immediate resistance is at 3,165 and next week investors will focus more on corporate earnings rather than economic data.  Penny stocks were mostly in play for the day with couple of them moving up to their respective immediate resistance.  Should market continue the bullish sentiment, these stocks should be able to breakout from the resistance level.