1. JMH 400US$ +0.740
2. JSH 500US$ +0.310
3. KepCorp +0.140
4. SIA +0.140
5. DBS +0.120
The top 5 loser component stocks were :-
1. Jardine C&C -0.440
2. UOB -0.050
3. SPH -0.020
4. SGX -0.020
5. OCBC -0.020
US markets closed in the red last Friday as news of Spanish bank required bailout and restructure weighed on investors. Asian bourses were flattish for the day but managed to close positive due to couple of news that were biased towards the positive side. Nikkei closed +0.15%, SSE +1.19% and HSI +0.47%. STI closed +0.52% but in a very thin volume day as total volume came in less than 1 billion. 22 of the index stocks managed to register positive closing.
News of Greek's pro-bailout parties leading the poll and speculation of Chinese Government will soon stimulate growth due to the industrial companies profit fell. Those news attracted bargain hunting to STI and regional bourses. With US markets close for holiday tonight, majority of the investors prefer to stay sideline hence resulting in very thin volume.
As mentioned before, investors should focus on the game changer events in June in particular the EU Summit in which EU leaders will be looking at ways to stimulate growth or rather balance off austerity and growth. This is much more important that the Greece issue as without growth, Spain and Italy will be in trouble next and these 2 nations should they have trouble will be more damaging to global financial than Greece. Spain and Italy already in austerity and recession, they need growth to prevent further spiral down.
