Market Summary -- 8th Sep 11

FTSE STI closed 2,856.90, up 24.77 points or +0.88% with a total volume of 1.47b and a total value of S$1.35b.  Total number of advance vs decline was 233 vs 217.  Of the 30 component index stocks, 15 closed positive, 8 closed negative and 7 remained unchanged.  The top 5 gainer component stocks were :-

1. JMH 400US$  +1.820

2. Jardine C&C  +0.940

3. JSH 500US$  +0.830

4. SIA  +0.160

5. KepCorp  +0.090

The top 5 loser component stocks were :-

1. CityDev  -0.140

2. ST Engg  -0.040

3. HKLand US$  -0.030

4. SIA Engg  -0.030

5. DBS  -0.020

5. OCBC  -0.020

5. UOB  -0.020

US markets rebounded at least 2% yesterday night with news from EU eased some worries on the debt issues and ahead of tonight President Obama's plan for job creation.  Asian bourses were however mixed after yesterday ran up.  Nikkei closed +0.34%, SSE -0.68% and HSI -0.67%.  STI swing between positive and negative but managed to close +0.88% with the Jardine group of stocks pushing the index.  Profit taking were seen after past 2 days of ran up.  President Obama's plan for job creation no doubt will bring some ease to the job market in US but ability to implement and carry out the plan will be another issue.  Majority of investors are anticipating a good plan from him and possibility of pushing up the stock markets ahead of the plan and then selling off after news could materialize.