1. Jardine C&C +0.840
2. Wilmar +0.030
3. F&N +0.030
4. CapMallsAsia +0.020
5. SingTel +0.010
5. SPH +0.010
5. SIA +0.010
The top 5 loser component stocks were :-
1. JMH 400US$ -1.050
2. UOB -0.210
3. KepCorp -0.190
4. HKLand US$ -0.170
5. DBS -0.160
US markets closed mixed yesterday night easing off earlier gain after Germany approved the bailout funds in their Parliamentary vote, US jobless claims fell below 400,000 beating expectation and US 2Q GDP indicated +1.3% better than expected. However, the unease of the EU debt still weighed on investors. Asian bourses were mostly down for the day as funds dressing for quarter end for their portfolio. Nikkei closed -0.01%, SSE -0.26% ahead of next week closure for holiday and HSI -2.32%. STI fell 1.22% below the 2,680 level as funds selling off to book gain in their portfolio. Some of the stocks in particular defensive counters still managed to register positive closing as this could be funds still holding to these stocks in their portfolio. For October, investors will be monitoring the situation in Europe as they try to resolve the debt issues and US has couple of important economic data coming out next week. Middle of the month earning season will be kicked in and investors should be focusing on that.
As STI closed below 2,680 for the week, a cautious for investors is that on the weekly chart, it appears to be squeeze out of the falling wedge formation and hence has to be cautious. The support at 2,650 will be closely watch next, thereafter will be the region between 2,580 - 2,600.
