1. JMH 400US$ +2.980
2. Jardine C&C +0.700
3. JSH 500US$ +0.690
4. CityDev +0.420
5. KepCorp +0.340
The 2 loser component stocks were :-
1. ComfortDelGro -0.015
2. GLP -0.010
US markets closed at least 1% yesterday night with better than expected corporate earnings and outcome of EU summit to resolve the EU debt issue eased investors concern over EU debt. Asian bourses took the cue and traded in positive region throughout the day. Nikkei closed +1.22%, SSE +0.18% and HSI +2.08%. STI closed +1.42% at the upper boundary of the triangle ( 3,183 ) with only 2 of the index stocks registered a negative closing only. The Jardine group, banks, Offshore/Marine and property stocks were leading the buying up. While market sentiment might be slightly bullish over the resolution of the EU debt issue, the other problem concerning the US debt ceiling still yet to be resolved. As 2nd August timeline is drawing near, if by next Tuesday no total solution to be found to avoid the default, market might be pulling back. At the meantime, the various support for STI are 3,120, 3,080 and 3,020. While US debt ceiling will be eventually raised without any doubt so any pull back due to panic over no solution been reached could be a bargain hunting opportunities
