Market Summary -- 15th Aug 11

FTSE STI closed 2,874.40, up 23.81 points or +0.83% with a total volume of 1.26b and a total value of S$1.50b.  Total number of advance vs decline was 356 vs 179.  Of the 30 component index stocks, 22 closed positive, 6 closed negative and 2 remained unchanged.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.940

2. DBS  +0.290

3. KepCorp  +0.270

4. F&N  +0.190

5. SGX  +0.160

The top 5 loser component stocks were :-

1. JMH 400US$  -0.790

2. Genting SP  -0.055

3. CapMallsAsia  -0.020

4. JSH 500US$  -0.010

5. NOL  -0.010

5. NobleGrp  -0.010

US markets closed positive last Friday as investors eased off worries of recession.  Asian bourses took the cue and traded in positive region for the day.  Nikkei closed +1.37% after report that Japan economy contracted less than expected, SSE +1.30% and HSI +3.26%.  STI moving within a 30 points range in a low volume day closed +0.83% with 22 out of 30 index stocks registered positive closing. While investors seem to have calm off from the recent selling down, the general outlook of the global economy still uncertain with European debt and US recovery remained totally unresolved.  The decline in volume probably indicating selling pressure has eased off and market could be entering consolidation phase to build a base before the meaningful rebound.