Market Summary -- 26th Aug 11

FTSE STI closed 2,748.18, down 17.56 points or -0.64% with a total volume of 1.30b and a total value of S$1.20b.  Total number of advance vs decline was 179 vs 268.  Of the 30 component index stocks, 6 closed positive, 20 closed negative and 4 remained unchanged.  The top 5 gainer component stocks were :-

1. Wilmar  +0.090

2. SingTel  +0.060

3. ST Engg  +0.030

4. CapMallsAsia  +0.025

5. NobleGrp  +0.015

The top 5 loser component stocks were :-

1. Jardine C&C  -1.190

2. JMH 400US$  -0.850

3. JSH 500US$  -0.500

4. CityDev  -0.310

5. DBS  -0.170

US markets fell at least 1% yesterday night with an unexpected rise in jobless claim as US Fed started a 2-days meeting with other central bankers.  Asian bourses were mixed for the day ahead of the outcome of the US Fed meeting.  Nikkei closed +0.29%, SSE -0.12% and HSI -0.86%.  STI pulled back 0.64% with thin volume as investors were cautious of the outcome of the US Fed meeting.  Only 6 of the 30 index stocks managed to register positive closing and board market wise defensive stocks performed better than higher beta.  With some expected a QE3, there is also a high chance of not getting one as US economic data so far have been mixed and no sign of US seriously getting into recession.