Market Summary -- 4th Aug 11

FTSE STI closed 3,107.01, down 23.33 points or -0.75% with a total volume of 1.29b and a total value of S$1.35b.  Total number of advance vs decline was 168 vs 357.  Of the 30 component index stocks, 6 closed positive, 21 closed negative and 3 remained unchanged.  The top 5 gainer component stocks were :-

1. GLP  +0.050

2. Olam  +0.040

3. DBS  +0.030

4. Wilmar  +0.030

5. CapitaMall  +0.01

The top 5 loser component stocks were :-

1. JMH 400US$  -0.440

2. UOB  -0.330

3. JSH 500US$  -0.330

4. CityDev  -0.230

5. OCBC  -0.200

US markets closed positive yesterday night with average of 0.5% gain after ADP number indicated that private sector added more job than expected in July.  Asian bourses after yesterday sharp selling off closed mixed for the day as investors staying cautious when doubt about US economy is hanging in the air.  Nikkei closed +0.23%, SSE +0.21% and HSI -0.49%.  STI failed to rebound from yesterday sell off and instead fell another 0.75% with only 6 of the index stocks managed to register a gain.  With US economy heading no where, there is talk about possible double-dip recession and also possibility that US Fed might launch QE3 to save the economy.  Investors will be looking at tomorrow US employment data for a clue.