1. Jardine C&C +1.940
2. JSH 500US$ +0.610
3. UOB +0.350
4. DBS +0.270
5. KepCorp +0.210
The 4 loser component stocks were :-
1. JMH 400US$ -0.110
2. SIA Engg -0.030
3. Olam -0.030
4. Genting SP -0.010
US markets closed positive yesterday night rebound from previous day sold down. Asian bourses mostly rebound from yesterday sold down too. Nikkei closed +0.77%, SSE -0.23% and HSI +1.03%. STI rose 1.28% with total volume roughly the same as past days but total value managed to hit over S$1b. 24 of the 30 index stocks managed to register positive closing.
Any dip was a buying chance and was what I stated in the 21st Jun Market Summary. Should you miss the buying opportunity for past 2 days when market was sold down due to illogical and irrational tracking of US markets, I just have to say you did not focus on the core. However, don't be over optimistic when the markets move up. Underlying problem in EU still there and we would not be seeing some fantastic policies from the EU Summit namely Euro bond but we do expect some little positive development from it. The 130b Euro growth package proposed by Germany, France, Italy and Spain will be presented in the Summit and should be agreed by rest of the EU nations. Perhaps we could have more detail as to how the 130b Euro is being utilized.
1H window dressing already started.