Market Summary -- 29th Aug 12

FTSE STI closed 3,041.57, up 1.50 points or +0.05% with a total volume of 1.24b and a total value of S$1.02b.  Total number of advance vs decline was 206 vs 178.  Of the 30 component index stocks, 16 closed positive, 4 remained unchanged and 10 closed negative.  The top 5 gainer component stocks were :-

1. Jardine C&C  +0.450

2. DBS  +0.120
3. SembCorp  +0.090

4. CityDev  +0.050

5. SGX  +0.050

The top 5 loser component stocks were :-

1. JMH 400US$  -0.880

2. JSH 500US$  -0.290

3. SIA  -0.080

4. Olam  -0.040

5. SingTel  -0.020

5. NOL  -0.020

US markets again closed mix yesterday night after a drop of consumer confidence data and talk of possible market drop should no positive signal for QE3 from Fed this coming Friday.  Asian bourses again closing mix for the day with Nikkei +0.40%, SSE -0.96% and HSI -0.12%.  STI flat and just edged out a 0.05% gain with slightly more volume than yesterday.  16 of the 30 index stocks managed to register positive closing.

It was another of those quiet, flat and thin volume day but with selective window dressing for STI.  Regional bourses were mainly cautious of possible no signal of QE3 from US Fed this Friday and anticipating how much market will pull back next week.  Isn't just week ago were so bullish for QE3 and no take a 180% turn ?  Not to focus on QE3 is the way.

Selective STI stocks were undergoing window dressing which started yesterday.  Many might not have noticed but it is so.