1. JSH 500US$ +0.920
2. Jardine C&C +0.620
3. DBS +0.140
4. Olam +0.120
5. OCBC +0.070
The top 5 loser component stocks were :-
1. JMH 400US$ -0.280
2. Wilmar -0.230
3. UOB -0.120
4. CityDev -0.110
5. HKLand US$ -0.090
US markets closed average +1% yesterday night after Italian PM lose vote of support in Parliament and offered a conditional step down next week should the austerity measures being passed in the Parliament. The news brought a relief to investors concerning Italian debt issue as believe of new leadership might be able to better reform Italy with new ideas. Meanwhile Greece formation of unity Government stalked yesterday. Asian bourses opened positive of the Italian news but closed mixed. Nikkei closed +1.15%, SSE +0.84% after releasing its October CPI of 5.5% a drop of 0.6 points from September and the cooling of inflation has triggered a thought of China will be loosen its monetary policies to spur growth. HSI +1.71%. STI failed to hold on the gain like regional bourses as in the afternoon a drop of US future of about 1% caused investors to be cautious. The other factor weighing on the market is a miss expectation of earning from Wilmar this morning caused the stock to fell 4.11%. After market closed, Noble Group reported a net loss which probably surprised investors too.
While markets are focusing on Greece and Italy issue, investors should also be watchful of the event taking place regarding US cutting its debt which has a deadline on 23rd Nov 2011 by the super committee. A replay of political deadlock will not be welcome by the markets. The brighter spot meanwhile should be on China as to how it will loosen its monetary policies to spur growth.
