1. UOB +0.350
2. SIA +0.090
3. DBS +0.080
4. Olam +0.010
5. Capitaland +0.010
The top 5 loser component stocks were :-
1. JMH 400US$ -0.700
2. KepCorp -0.340
3. JSH 500US$ -0.200
4. HKLand US$ -0.180
5. SGX -0.170
5. SembCorp -0.170
5. SembMar -0.170
US markets fell like 4% yesterday night giving back all the gain it rebounded the day before as rumor of Europe debt spread to France. Asian bourses took the cue were trading in negative region when opened but soon pared off the losses and closed mixed. Nikkei closed -0.63%, SSE +1.27% and HSI -0.95%. STI hit intra-day low of 2,720.21 before an afternoon rebound that lifted it to close at 2,796.22. With DJ future and European bourses opened in positive region, bargain hunting and short covering allow STI to recover the earlier loss. 5 of the 30 index stocks managed to register positive closing. With a 2,650 support, STI might be hitting a bottom as current drop should be factoring in that Singapore will enter a technical recession. At the moment no sign of Singapore entering recession and if so, STI could drop to 2,400 and below. A sign to monitor for bottom would be the declining daily volume. After so many days of sharp selling down, STI is due for a technical rebound.
