Market Summary -- 3rd Oct 11

FTSE STI closed 2,621.40, down 53.76 points or -2.01% with a total volume of 1.49b and a total value of S$1.43b.  Total number of advance vs decline was 81 vs 439.  Of the 30 component index stocks, 3 closed positive, 24 closed negative and 3 remained unchanged.  The 3 gainer component stocks were :-

1. ComfortDelGro  +0.030

2. ST Engg  +0.010

3. NOL  +0.005

The top 5 loser component stocks were :-

1. Jardine C&C  -3.480

2. JMH 400US$  -1.800

3. JSH 500US$  -1.370

4. CityDev  -0.390

5. DBS  -0.280

5. KepCorp  -0.280

US markets fell at least 2% last Friday with concern of EU debts weighed on as funds adjusting portfolio for end of 3Q.  Asian bourses took the cue and traded in the red for the day as news of Greece failed to meet the deficit target triggered fear of recession.  Nikkei closed -1.78%, SSE closed for holiday and HSI -4.38%.  STI fell 2.01% with 2,600 acting as the support at the moment.  Only 3 of the index stocks managed to register positive closing.  EU Finance Minister will be meeting later on tonight to discuss about EU debt issue and IMF/ECB are not accessing Greece whether it will meet the criteria for the 2nd bailout funds.