1. JSH 500US$ +0.700
2. JMH 400US$ +0.400
3. UOB +0.370
4. KepCorp +0.230
5. DBS +0.160
The 3 loser component stocks were :-
1. Genting SP -0.020
2. Olam -0.005
3. NobleGrp -0.005
US markets opened positive but soon sank into negative after ISM data of 49.7 indicating contraction released but managed to recover the loss and closed mix. Asian bourses continued the advance with Nikkei closed +0.70%, SSE +0.14% and HSI reopened after yesterday holiday closed +1.39%. STI advanced another 1.19% in moderate volume but total value of the day improving from past weeks. 26 of the 30 index stocks managed to close positive.
The weak US ISM data initially caused worries to investors but later investors chose to look at it this will give reason for US Fed to do another QE and thus stocks rallied in anticipation or hoping of that. Stress again, DO NOT bet on US Fed launching QE as that can never help US economy.
Funds inflow to Asian bourses ahead of earning season starting in 2 weeks time. Only focus on the fundamental strong stocks with past 2 quarters giving resilient result to play for earning season.