1. Jardine C&C +0.980
2. UOB +0.450
3. HKLand US$ +0.250
4. CityDev +0.240
5. SIA +0.160
The top 5 loser component stocks were :-
1. JMH 400US$ -1.110
2. JSH 500US$ -0.580
3. NOL -0.020
4. GLP -0.020
5. SIA Engg -0.010
US markets fell at least 0.5% last Friday as a worse than expected 2Q GDP figure disappoint the market with investors on one hand concern about the US debt ceiling and the other hand worried about the recovery of US economy. On Friday, the US debt ceiling still could not resolve and drag over to the weekend. Over the weekend, a compromise deal was agreed on by both parties at the Senate and House level. They will take a vote tomorrow to get that plan to pass through to avoid a default on 2nd August. That news brought cheers to Asian bourses. Nikkei closed +1.34%, SSE +0.08% with its July PMI data came in better than expected and HSI 0.99%. STI broke the 3,200 level and managed to trade above that throughout the day. Furthermore, today is the first day that STI went on continuous all-day trading, scraping off the usual 12.30pm - 2pm lunch break. However, daily volume wasn't that higher given that STI now has that extra 90 minute of trading. STI in line with regional bourses rose 0.82% with 22 of the index stocks register a positive closing. Investors get a sigh of relief with the US debt ceiling issue but will soon change the focus back to US recovery status. STI currently being resistance at 3,240 while support is at the 3,180 level. The gap up today could lead to a pull back in covering up the gap later too.
