1. Jardine C&C +2.820
2. CityDev +0.440
3. UOB +0.410
4. DBS +0.310
5. SIA +0.250
The 2 loser component stocks were :-
1. JMH 400US$ -2.390
2. JSH 500US$ -1.330
US markets closed average +2% last Friday as concern about EU debt crisis of Italy eased with the Italian Parliament passed the vote for austerity measures and the resignation of the PM. Over the weekend, both new Government of Greek and Italian were formed. Asian bourses taking the cue, trading in the positive region for the day. Nikkei closed +1.05% ( its 3Q GDP indicating its has came out of recession since the March earthquake), SSE +1.92% and HSI +1.94%. STI in line with regional bourses advanced 1.40% with 28 out of the 30 index stocks registered positive closing. Banking stocks were leading the buying up. Though a new chapter has emerged in Greece and Italy, there is still lot of works to be done in order to resolve the respective debt issue totally. Nevertheless, the small positive steps indicating EU leaders are trying to resolve the debt crisis.
While investors mostly focus on EU debt issue, the US debt reducing issue and China possible easing of monetary policy to spur growth should also be placed on investors' radar.
Singapore 3Q earning also coming to a close after today and investors in particular fund managers will be adjusting their portfolio for end of the year accounting. Global markets will still be very sensitive to events/news and volatile but do keep in mind of the end of the year when fund managers mostly under vested in equity closing their portfolio. There is a possibility that fund managers could be buying up in stock markets for that year end window dressing since most of the stocks in term of valuation is attractive.
