1. Jardine C&C +1.170
2. CityDev +0.280
3. HKLand US$ +0.110
4. SIA Engg +0.100
5. GLP +0.070
The top 5 loser component stocks were :-
1. JMH 400US$ -1.220
2. JSH 500US$ -0.380
3. UOB -0.250
4. SembCorp -0.190
5. KepCorp -0.130
US markets closed slightly positive yesterday night with better ISM data offset a worse than expected ADP job number. Asian bourses were mixed for the day given past days of rebound, profit taking kicked in. China released its manufacturing data though still indicating expansion but miss expectation. Nikkei closed +1.18%, SSE -0.44% and HSI +0.25%. STI rose in earlier part of the day with resistance cap at 2,920 but soon fell and closed negative of -0.63% with profit taking kicked in in the later part of the day when European bourses opened in the red so as DJ future. Volume was high with more than 2 billion possibility of spill over effect of yesterday window dressing and also funds slowly moving back into the stock markets. 28 of the 30 index stocks registered a negative closing. With Friday US unemployment data and next week 8th Sept when Obama addresses congress of its plan for job creation, global markets will be monitor that as a direction. A poor job data could fuel rally in stock markets given that investors might hope that US Fed now has a stronger case to start another round of stimulus program comes end of this month FOMC meeting.
Whether STI is on a rebound after recent sharp sell down or just a dead cat bounce ? investors will need to monitor for funds moving back in STI ( namely volume expansion and price resilience when market is on a down day ).
