1. StarHub +0.010
The top 5 loser component stocks were :-
1. Jardine C&C -1.310
2. JMH 400US$ -0.750
3. JSH 500US$ -0.450
4. KepCorp -0.300
5. SGX -0.140
US markets closed at least -0.5% yesterday night as news of EU Finance Ministers delayed decision to release bailout to Greece to 20th Feb weighed on investors as news and events were biased towards a Greece default on 20th March. Asian bourses after yesterday rally were in the red for the day with Nikkei closed -0.24%, SSE -0.42% and HSI -0.41%. STI performing worse that regional bourses fell 1.14% as in the afternoon European bourses all opened in the red. Only 1 of the 30 index stock managed to register positive closing.
A very contrast performance compared with yesterday as optimism of China invest in Europe bailout and pessimism of Greece getting default. While nobody know the actual outcome until Feb 20, news and events were biased towards a possible Greece default on 20th March. While not betting on how market will immediate react, investors should look at the possible scenario some 3 to 6 months down the road should either one of the outcome occurs.
Singapore MTI released 4Q11 GDP this morning indicating 4Q GDP contracted less than expected and making 2011 GDP a +4.9% as compared with earlier estimate of +4.8%. That positive news did little to offset the concern of Greece's debt issue.
