Market Summary -- 28th Dec 11

FTSE STI closed 2,666.25, down 7.37 points or -0.28% with a total volume of 511M and a total value of S$351M.  Total number of advance vs decline was 159 vs 198.  Of the 30 component index stocks, 8 closed positive, 20 closed negative and 2 remained unchanged.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.420

2. JMH 400US$  +0.320

3. HKLand US$  +0.060

4. SIA Engg  +0.040

5. SGX  +0.030

The top 5 loser component stocks were :-

1. UOB  -0.110

2. DBS  -0.080

3. KepCorp  -0.070

4. CityDev  -0.040

5. Wilmar  -0.030

5. SembMar  -0.030

5. SIA  -0.030

5. Olam  -0.030

US markets closed flat last night with S&P500 and Nasdaq recorded positive closing while DJ in the red.  US consumer confidence data was better than expected which supporting a thin volume day.  Asian bourses which resumed trading after the Christmas holiday were mostly in the red.  Nikkei closed -0.20%, SSE +0.18% and HSI -0.59%.  STI in another low volume day closed -0.28% with 20 of the 30 index stocks registered negative closing.  Lacking of catalysts and volume has made the market directionless.  While some are eying for a year end window dressing that could see markets edge higher into January next year, others are maintaining cautious as lot of uncertainties regarding the EU debt crisis still around.  We could see some window dressing but on selective stocks only.