1. Jardine C&C +0.970
2. JSH 500US$ +0.200
3. UOB +0.140
4. HKLand US$ +0.110
5. NOL +0.050
5. OCBC +0.050
5. SIA +0.050
The top 5 loser component stocks were :-
1. JMH 400US$ -0.330
2. KepCorp -0.130
3. CityDev -0.100
4. SembMar -0.050
5. SembCorp -0.040
US markets fell average 2% after earlier rise of about 1% as concern of Europe's action to the debt still uncertain offsetting a better than expected Durable Goods Order data. The flickering news about EU actions to salvage the debt issue has nevertheless unsettle investors confidence. Asian bourses taking the cue were opened in the red but some managed to recover and close positive. Nikkei closed +0.99%, SSE -1.12% and HSI was closed due to typhoon. STI swing into red in early portion but recovered to close +0.26% with a very thin volume day of less than 1 billion in volume. Investors were very cautious ahead of tonight some important events. US releasing its GDP, jobless claims and Germany will be put under the spotlight for its Government vote for the EU bailout. Current markets are very volatile with any sensitive news can swing the market to positive or negative.
STI dipped below the 2,680 level but managed to rebound from that intra-day hence still remain inside the falling wedge from the weekly chart. There seem to be some window dressing on certain stocks today and investors will be eying on tomorrow the last day of 3rd quarter to see any possible window dressing by fund managers. Window dressing could move the market up or down all depending on funds' portfolio. Should a hedge funds decided to record realized gain by closing the short positions, this could potentially push the index/stock prices up. Should mutual funds decides to sell to record a realized gain, the selling pressure could press the index/stock prices down. Whether up or down will depend on the funds what they want to do with their portfolio. It will not be surprised that the prices could push up by hedge funds who are rushing to close short positions given that past weeks/months there are lot of shorting.
