1. SGX +0.050
2. StarHub +0.040
The top 5 loser component stocks were :-
1. JMH 400US$ -0.830
2. UOB -0.620
3. SIA -0.340
4. DBS -0.190
5. HKLand US$ -0.170
US markets fell at least 2% yesterday night with poor economic data offset the debt ceiling resolution. Investors were concern of whether US can go back to recession again. Meanwhile, talk that US Fed might extend stimulus program given that the US economy almost stalked. Asian bourses were under selling pressure for the day. Nikkei closed -2.11%, SSE -0.03% and HSI -1.91%. STI with support at 3,100 fell 1.47% with only 2 index stocks managed to register a positive closing. STI did recover from intra-day low of 3,111.30 near the last 30min period probably due to short-covering and a positive DJ future indicating might having a technical rebound. Investors will be looking at this Friday US employment data for the cue for US economy. Market on one hand is also speculating of possible US Fed starting of QE3 in this month.
