1. JSH 500US$ +0.100
2. HKLand US$ +0.030
3. Starhub +0.010
4. ST Engg +0.010
The top 5 loser component stocks were :-
1. Jardine C&C -0.560
2. KepCorp -0.220
3. DBS -0.180
4. UOB -0.140
5. SembCorp -0.100
US markets closed negative last Friday as concern over the midnight shutdown that could not be avoided. However, US Government managed to agree on the budget cut to avoid the midnight shutdown situation after market closed. Over the weekend, China also reported a 1Q deficit. Asian bourses were on profit taking mode, pulling back after last week of strong gain. Nikkei closed -0.50%, SSE -0.24% and HSI -0.38%. STI fell 0.84% as profit taking hit the blue chips resulting only 4 out of 30 component stocks managed to register a positive closing. Market looking to pull back for consolidation ahead of the earning season with immediate support at 3,120. Alcoa will release its earning for the start of US earning season tonight while SPH will do so for Singapore on 13th April. Investors will be looking at the middle east unrest and Japan disaster ( earthquake, tsunami and nuclear meltdown ) to determine how much impact they have on global economy recovery/growth. Corporate earnings should be affected by those.
