Market Summary -- 29th Aug 11

FTSE STI closed 2,791.89, up 43.71 points or +1.59% with a total volume of 1.23b and a total value of S$1.12b.  Total number of advance vs decline was 385 vs 115.  Of the 30 component index stocks, 27 closed positive and 3 closed negative.  The top 5 gainer component stocks were :-

1. JMH 400US$  +1.030

2. JSH 500US$  +0.380

3. KepCorp  +0.340

4. SIA  +0.280

5. CityDev  +0.250

The 3 loser component stocks were :-

1. ST Engg  -0.030

2. ComfortDelGro  -0.015

3. StarHub  -0.010

US markets reversed earlier loss after a weak 2Q GDP data and closed at least 1% after US Fed chief positive speech on the US economy despite no mentioning of a possible QE3.  Asian bourses took the cue and mostly traded in the positive region for the day.  Nikkei closed +0.61%, SSE -1.37% and HSI +1.44%.  STI in line with majority of the regional markets rose 1.59% in a very thin volume day.  Investors came bargain hunting but also cautious over the public holiday tomorrow.  Though sentiment has slightly less bearish but still very events sensitive especially with couple of important economic data this week for US.  In particular the employment situation this Friday which investors will be focused on to determine the strength of the US job market.