1. JMH 400US$ +0.450
2. JSH 500US$ +0.300
3. SIA Engg +0.060
4. CapitaMall +0.060
5. ComfortDelGro +0.045
The top 5 loser component stocks were :-
1. DBS -0.520
2. UOB -0.460
3. Jardine C&C -0.400
4. KepCorp -0.320
5. SIA -0.300
US markets rose on average 3% yesterday night as investors speculate possible of stimulus program (QE3) this coming Friday from US Fed. Asian boureses however took a cautious stand and closed mostly in the red. Nikkei closed -1.07%, SSE -0.51% and HSI -2.06%. STI in line with regional bourses despite European markets opening and trading in the green fell 1.64% in a thin volume trade dragging down by banking and offshore/marine stocks after downgrading by analysts. Only 7 of the 30 index stocks managed to register positive closing.
Most expecting a QE3 by US Fed this Friday but chances are it will not have. QE1 and QE2 already didn't work out in term of creating job for US, QE3 will not have any impact if launches. Instead QE3 might cause US inflation to rise further and possible going into stagflation stage if serious enough whereby economy growth is stalled, high unemployment rate and rising inflation. However, US Fed might have some unorthodox method in hand this time round to tackle issue both on US and Europe. Do keep the option of a possible unorthodox method.
