Market Summary -- 18th Aug 11

FTSE STI closed 2,824.96, down 3.57 points or -0.13% with a total volume of 1.24b and a total value of S$1.30b.  Total number of advance vs decline was 182 vs 315.  Of the 30 component index stocks, 12 closed positive, 14 closed negative and 4 remained unchanged.  The top 5 gainer component stocks were :-

1. JMH 400US$  +0.810

2. JSH 500US$  +0.570

3. Jardine C&C  +0.460

4. SembCorp  +0.130

5. UOB  +0.120

The top 5 loser component stocks were :-

1. KepCorp  -0.180

2. SIA  -0.090

3. OCBC  -0.070

4. SGX  -0.070

5. SingTel  -0.070

5. StarHub  -0.070

US markets closed mixed yesterday night due to mixed news on economic data and corporate earning.  Tech stocks led the decline.  Asian bourses were mostly negative for the day given the lack of direction and the existing worries still remained.  Nikkei closed -1.25% dragged down by stronger yen, SSE -1.61% with reported of lowering of GDP forecast for 2011 by analysts and housing price dropping for last month.  HSI -1.34%.  STI rose in early part of the day capped at 2,860 but soon following regional bourses closed in the red.  European bourses opening in the red coupling with negative US markets future also weighed on investors taking profit and remained cautious.  STI immediate support is at 2,820 with the next at 2,780.  Daily volume has been declining signal investors remained cautious and selling pressure also eased.  STI could be entering consolidation phase with index moving in range bound mode on a thin volume.