1. Jardine C&C +1.060
2. JSH 500US$ +0.400
3. JMH 400US$ +0.270
4. UOB +0.170
5. DBS +0.160
The 4 loser component stocks were :-
1. StarHub -0.040
2. GLP -0.015
3. NobleGrp -0.010
4. Genting SP -0.005
US markets closed average +1.50% yesterday night as better than expected ISM data coupled with better than expected global manufacturing data sent US markets to a good start for year 2012. Asian bourses were mixed for the day with Nikkei reopened after past days of holiday closed +1.24% playing catch up, SSE also reopened today closed -1.37% as report of December home price continued to fall and Premier Wen Jiabao's comment of difficult 1H2012 concerned investors. HSI after yesterday rally closed -0.80%. STI continued to advance another +0.84% moving above the 2,700 level with 24 of the 30 index stocks register a gain. However, cautious must keep in mind as volume was just around 1 billion level while total value came in only S$850M, indicating mostly penny stocks in action and the underlying issue of EU still unchanged for the moment. Investors probably looking at the better than expected global economic data and temporary putting EU issue aside for the time being. Germany and Portugal will be doing bond sales today and should Germany's bond sale failed in expectation to raise the required amount, the worries of EU debt crisis might weigh on investors. US itself will have series of economic data this week in particular the employment situation this Friday.
Singapore Government today revealed the Ministers' salary review and PM will be taking a 28% pay cut while the President 51% cut and ministers taking around at least 30% pay cut. STI probably rally because of this piece of good news.
Do want to cautious investors at this junction, global index in particular US do look like trying to breakout but there is lack in volume and the fundamental problems regarding EU debt crisis, Asian countries suffering slow growth and US high unemployment situation still the same as last year. With possible short covering and fund managers taking new position for the new year, the sustainable upside of the global stock markets still questionable.
