1. JSH 500US$ +0.550
2. JMH 400US$ +0.210
3. DBS +0.100
4. F&N +0.070
5. KepCorp +0.070
The top 5 loser component stocks were :-
1. UOB -0.180
2. CityDev -0.140
3. SembCorp -0.040
4. SembMar -0.030
5. SPH -0.030
US markets closed positive yesterday night reversing earlier gain after US Fed interest forecast of maintaining low interest rate till 2014 and do not rule out possibility of QE3. The thought of cheap money caused a buying rush. Asian bourses however were mixed for the day after past days of moving up, taking a breather. Nikkei closed -0.39%, SSE still close for CNY and HSI resumed trading playing catchup closed +1.63%. STI was able to reverse earlier loss to close +0.10% in another moderate volume day. Total value continued to exceed total volume of the day for 3 days in a row. With some profit taking, 16 of the 30 index stocks managed register positive closing as market probably need a breather, pulling back before leaping up further.
In Europe, EU leaders are preparing for next week summit in particular the draft for the fiscal pact to tackle the EU debt crisis. In Davos World Economy Meeting yesterday, German leader already said whatever EU could do to resolve the EU debt crisis will take time and will have a limitation of what is being able to do. While the EU debt crisis still far from resolve, an advice for the investors would be do not be over optimistic of whatever EU could do to resolve the issue. As global markets have been moving up since the turn of the year, a healthy pull back would be justified for further upside. Be open to the scenario that after the EU Summit next week, markets could experience selling down.
