1. JSH 500US$ +0.930
2. Wilmar +0.080
3. OCBC +0.050
4. SPH +0.040
5. CapitaMall +0.030The top 5 loser component stocks were :-
1. Jardine C&C -0.410
2. JMH 400US$ -0.110
3. HKLand US$ -0.100
4. SIA -0.100
5. CityDev -0.060
5. F&N -0.060
5. GLP -0.060
US markets closed positive yesterday night reversed earlier loss with better than economic data from retail sales and PPI. Tech stocks were lifting the upside with Buffett buying into IBM. Asian bourses were unfortunately down for the day with concern of EU debt crisis continued to weigh on. Spanish, Italian and French bond yield rose and that was the culprit. Spanish and French are going to auction their bond today, Italian new government will be named and Greek will be on the vote for austerity measures and staying in Euro. Those were not new problem anymore nevertheless. Nikkei closed -0.92%, SSE -2.48% and HSI -2.00%. STI hit an intra-day low of 2,772.71 before rebound to close just 0.15% off as European bourses coupling with US future staying in positive region lifted the sentiment near closing. Stock of the day will have to be Yanlord closed +12.74% in heavy volume after past days 3 substantial shareholders raised their stake to at least 5% ( combine total of at least 15% ) and that boost confidence in the stock. The 3 substantial shareholders are Peter Lim, Wilmar's CEO and Wee Ee Chao ( Wee Cho Yaw's son ).
With the concern in EU debt has at many times made the market volatile, investors should look at bigger picture. When both Greek and Italian voted their ex-PM out and in come technocrat to try to reform the country in particular the debt issue, initially investors were cheering on that but soon question pop up as technocrat is not politician. Technocrat will just follow the rule to stem out the issue and seldom bending the rules just to please those affected investors along the way like politicians do. Investors soon realize that and this make the volatile market very speculative in nature.
