1. Jardine C&C +0.880
2. UOB +0.460
3. JSH 500US$ +0.400
4. SGX +0.150
5. DBS +0.130
The 4 loser component stocks were :-
1. SIA Engg -0.040
2. SPH -0.010
3. CapitaMall -0.010
4. ComfortDelGro -0.005
US markets rose at least 1.6% yesterday night after strong retail sales data and US Fed chief affirmation of US economy recovery after the FOMC meeting with interest rate maintained at low level. Asian bourses taking the cue continued the upwards movement mostly. Nikkei closed +1.53% closing above the 10,000 level, SSE -2.63% after Premier Wen Jiabao comment that China housing curb remains which led to property stocks dragging down SSE and HSI -0.15% tracking SSE. STI shot up above 3,000 level since open and managed to maintain above that level, closing +1.25% in a volume slightly more than past days but still below the 2 billion mark. 25 of the 30 index stocks registered positive closing.
The positive news on US economy lift most of global markets up as concern of EU debts and China slowing down eased. US Fed also released its stress test result on 19 US banks with 4 failing the test and Citibank was among the four. While most of the markets were up these 2 days, do note that the daily volume was light and hence the question of whether the continue upwards movement could sustain or not. Near term, market might have a limited downside but the upside with the lack of volume of seem limited. Investors are advised not to chase the market as present market still in consolidation phase and lacking of strong positive catalysts that jet up the market.
