Market Summary -- 17th Aug 11

FTSE STI closed 2,828.53, down 4.20 points or -0.15% with a total volume of 1.37b and a total value of S$1.30b.  Total number of advance vs decline was 282 vs 220.  Of the 30 component index stocks, 11 closed positive, 14 closed negative and 5 remained unchanged.  The top 5 gainer component stocks were :-

1. JSH 500US$  +0.280

2. UOB  +0.230

3. SGX  +0.090

4. Olam  +0.060

5. SIA Engg  +0.050

The top 5 loser component stocks were :-

1. JMH 400US$  -0.860

2. Jardine C&C  -0.300

3. HKLand US$  -0.180

4. SIA  -0.090

5. F&N  -0.060

US markets fell at least 0.60% yesterday night with mixed news.  Economic data in particular industrial production was better than expected but concern on Germany and Europe economy grow stalled offset the positive news.  Asian bourses were also mixed for the day with Nikkei closed -0.55%, SSE -0.26% and HSI +0.38%.  STI with upside capped at 2,850 swing between positive and negative but closed down 0.15% with immediate support at 2,820.  Of the 30 index stocks, 11 managed to register positive closing.  While some bargain hunting can be detected, in general investors still cautious as the weak economy from US and Europe still weigh on investors.