1. F&N +0.090
2. StarHub +0.030
3. GLP +0.025
4. CapMallsAsia +0.005
5. GoldenAgr +0.005
The top 5 loser component stocks were :-
1. JMH 400US$ -0.780
2. Jardine C&C -0.770
3. JSH 500US$ -0.750
4. CityDev -0.230
5. UOB -0.200
US markets closed mixed last Friday with Nasdaq positive and DJ and S&P500 in the red after the 4Q2011 GDP came in +2.8% below the expectation of +3%. Asian bourses were on profit taking mode after recent run up, taking a breather, a very much needed pull back. Nikkei closed -0.54%, SSE reopened after CNY holiday closed -1.47% after Premier Wen Jiabao indicating China will put an limit to loosen its monetary policy, damping investors hope for another cut of the RRR. HSI -1.66%. China will be releasing its PMI tomorrow. STI in a moderate volume day closed -0.96% with only 5 of the index stocks managed to register a positive closing. Profit taking was on the card for investors.
Over the weekend, debt talk between Greek Government and investors appeared to be coming to a deal in today EU Summit. Investors this week will be looking at unemployment situation in US later this week and the outcome of the EU Summit after last week Davos World Economy Forum whereby rest of the world is pressuring EU leaders to resolve the debt issue soonest possible. There should not be any surprised from the EU Summit in which Greek debt swap deal should be reached and EU fiscal pact draft should release.
Though markets took a breather and pull back but that doesn't mean investors should quickly jump into the bearish camp. Remember this is not the time to be overly optimistic or pessimistic about the global economy. There isn't any news as worse as last year and should maintain a cautiously optimistic view towards the market as global leaders realize the importance of not letting the economy falling off the cliff.
