1. JSH 500US$ +0.700
2. UOB +0.100
3. SembMar +0.080
4. SIA +0.060
5. DBS +0.050
The top 5 loser component stocks were :-
1. Jardine C&C -0.210
2. JMH 400US$ -0.200
3. SGX -0.130
4. NobleGrp -0.090
5. F&N -0.090
US markets closed negative yesterday night with average 0.3% drop. With positive economic data on Jobless claim, PPI and JP Morgan beating expectation earning, markets were weighed down after US Fed Chief comment to US Congress that they have no immediate plan to roll out another stimulus. After market closed, Google reported a far better than expected earning. US debt ceiling debate still on going with S&P being the latest to put US Government debt rating on downgrade should the debt ceiling unable to resolve by 2nd Aug. Meanwhile in Europe side, EU banks stress test result will be out tonight and a meeting between EU Finance Minister over the weekend to trash things out for the bailout also weighed on investors. Asian bourses were mixed given over the weekend investors are cautious of holding any position. Nikkei closed +0.39%, SSE +0.35% and HSI -0.30%. STI swing between positive and negative region throughout the day in a very narrow range but close -0.14% with 12 of the index stocks managed to register positive closing. Immediate support for STI is 3,080 while resistance is 3,120. The events over the weekend on US debt ceiling and European debt could dictate the direction of the market for next week.
