1. Jardine C&C +0.770
2. JMH 400US$ +0.740
3. UOB +0.340
4. SIA +0.330
5. JSH 500US$ +0.320
The 3 loser component stocks were :-
1. StarHub -0.030
2. CapitaMall -0.010
3. SPH -0.010
US markets closed at least +1.5% last Friday ahead of the EU Summit over the weekend anticipating some actions to be done by the EU to tackle the EU crisis. Over the weekend the outcome of the EU Summit did produce some positive progress and Asian bourses were in the positive for the day. Nikkei closed +1.90%, SSE +2.29% after a HSBC PMI data indicating China manufacturing activities expansion and HSI +4.14%. STI in line with regional bourses closed +1.79% with 27 of the 30 index stocks registered gain.
The EU Summit did not provide any detail of measures which investors would like to see but made some progress in areas like ECB will not be involved in boosting the rescue funds, recapitalization of the banks, investors haircut on Greece debt and acknowledged a need to enlarge the EFSF funds. The details of those according to the Summit would be announced this coming Wednesday. Investors will be definitely looking for the details this coming Wednesday.
