1. JMH 400US$ +3.300
2. JSH 500US$ +2.590
3. Jardine C&C +0.450
4. KepCorp +0.320
5. DBS +0.210
5. CityDev +0.210
The 3 loser component stocks were :-
1. ComfortDelGro -0.020
2. CapitaMall -0.005
3. NOL -0.005
US markets closed average +3% on news of EU debt crisis progress and a +2.5% GDP growth for 3Q 2011. Asian bourses continued yesterday rally with another positive closing for the day. Nikkei closed +1.39%, SSE +1.55% and HSI +1.68%. STI outperformed regional bourses with a +2.04% closing moving above the 2,900 level with a daily volume of more than 2 billion. 24 of the 30 index stocks registered positive closing.
The progress made by EU leaders to resolve the debt issue did please investors despite many still question the missing of more details about the plan. Nevertheless, it is a step moving forwards towards the right direction. As mentioned previously, do not expect a quick one-fix-all solution and EU will slowly resolve that a step by a time. The 3rd - 4th Nov G20 Summit might have more details announce.
As mentioned previously, do not rule out the possibility of global stock markets have hit the bottom some 3 weeks ago despite none of the analysts globally claimed it so. Also watch out for funds inflow to Asian markets and that will continue to move the market upwards. Funds have been out flow since January this year and most of them are under vested in equity. With end of the year coming, funds holding cash on hands would like to pour back to stock markets to have more meaningful portfolio since their performance is judged by the market.
Despite the continue moving up, market do need a pull back to digest the rally.
