Market Summary -- 6th Dec 11

FTSE STI closed 2,749.24, down 16.99 points or -0.61% with a total volume of 1.15b and a total value of S$796M.  Total number of advance vs decline was 152 vs 271.  Of the 30 component index stocks, 8 closed positive, 21 closed negative and 1 remained unchanged.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.560

2. JSH 500US$  +0.450

3. ST Engg  +0.030

4. ComfortDelGro  +0.020

5. F&N  +0.010

5. OCBC  +0.010

5. SingTel  +0.010

5. Wilmar  +0.010

The top 5 loser component stocks were :-

1. DBS  -0.310

2. UOB  -0.210

3. KepCorp  -0.160

4. SIA  -0.140

5. CityDev  -0.120

US markets closed at least +0.60% yesterday night with hope of EU debt crisis will be having another step forwards to resolve this coming EU Summit.  However, after market closed S&P warned of downgrading EU nation in particular Germany and France of their top grade rating.  The news caused bearish sentiment in Asian bourses as if being downgraded of the rating, the leveraging of EFSF might pose some issue.  Nikkei closed -1.39%, SSE -0.31% and HSI -1.24%.  STI in line with regional bourses closed -0.61% in thin volume day.  Only 8 of the 30 index stocks registered positive closing.  STI avoided dropping at least 1% with the help of Jardine C&C and JSH 500US$.  Investors are still cautious ahead of the development in the EU crisis despite having hope that some positive news should appear from the EU Summit.