1. JMH 400US$ +0.940
2. JSH 500US$ +0.310
3. F&N +0.090
4. SingTel +0.010
The top 5 loser component stocks were :-
1. Jardine C&C -0.910
2. DBS -0.330
3. UOB -0.160
4. SIA -0.150
5. HKLand US$ -0.130
5. SembMar -0.130
US markets fell average 1% yesterday night weighed down by tech stocks after Apple's earning missed expectation and continued worries of a suitable measures by EU leaders in the coming EU summit. There was news of division between EU leaders in the rescuing of the EU crisis and that further made the sentiment bearish. Asian bourses took the cue also traded in negative region for the day. Nikkei closed -1.03%, SSE -1.94% and HSI -1.78%. STI broke below 2,700 level and closed -0.96% at 2,694.01 in a very thin volume day. 24 of the 30 index stocks registered negative closing. Investors in general were cautious ahead of the outcome of the EU summit.
A scenario of another sweet talking from the EU summit should not be possible as EU leaders already recognized the seriousness of the crisis. A scenario with an one-fix-all solution is also impossible as the EU debt has been around for more than 1 years that involved billion of euro and several EU countries. A slow step by step solution perhaps is the only best scenario that will be coming from EU summit. However, those measures or details mentioned during the summit might not pleased the investors and could occur a knee-jerk reaction come next week. Nevertheless, just have to see what will be coming out from the EU summit. Something to note and worth noting from the EU summit would be how much the EU rescue funds would be enlarged and how much haircut would private investors incur for the Greece default. A detail of those 2 would be needed by the markets.
