1. UOB +0.220
2. HKLand US$ +0.200
3. CityDev +0.150
4. StarHub +0.080
5. Wilmar +0.060
5. Olam +0.060
The top 5 loser component stocks were :-
1. Jardine C&C -0.680
2. JSH 500US$ -0.230
3. KepCorp -0.090
4. SGX -0.030
5. GLP -0.025
US markets closed mixed yesterday night as investors await US Fed outcome after IMF downgraded global growth due to risk in US and Europe. After S&P downgraded Italy rating, investors also awaiting for Greece bailout to be resolved. Asian bourses were mainly on cautious mode for the day. Nikkei closed +0.23%, SSE +2.66% and HSI -1.00%. STI swing between positive and negative in thin volume trading day with index stocks closing mixed as investors remained cautious ahead of the outcome of US Fed meeting. Bank, property and commodity stocks were mostly up.
While most anticipating US Fed might roll out some sort of stimulus but do keep the option open of possibility that nothing will be rolled out. What important will be the underlying of the Fed's speech. US economy so far has been dragged down by the high unemployment rate and that could only be resolved with Government policies like the one President Obama is proposing. Any action taken by US Fed on the stimulus will not help to solve the unemployment issue.
