1. JMH 400US$ +2.150
2. Jardine C&C +1.54%
3. CityDev +0.280
4. KepCorp +0.190
5. F&N +0.170
The 3 loser component stocks were :-
1. UOB -0.130
2. SIA Engg -0.020
3. ST Engg -0.020
US markets continued to move up average 1% yesterday night with a better than expected Durable Goods Order data and speculation of US Fed might have some stimulus program this coming Friday. Asian bourses took the cue and rebound from yesterday selling down. Nikkei closed +1.54%, SSE +2.92% and HSI +1.47%. STI in line with regional bourses rose +1.69% in a thin volume day with 26 of the 30 index stocks managed to register positive closing. Bargain hunting were seen buying into recent battle down stocks especially defensive counters like S-Reits were showing buying strength lately. This could be indication that funds are still in equity market switching from higher beta stocks to more defensive stocks. Bank stocks were however still weak at the moment probably with funds trying to selling off.
While the possibility of US Fed not introducing a QE3 this coming Friday is high, from the observation of market buying pattern ( cautiously into defensive counters ), there is a possibility that market might not fell even if US Fed will not announce any stimulus program.
