1. CityDev +0.070
2. OCBC +0.060
3. UOB +0.050
4. SGX +0.050
5. SIA Engg +0.030
The top 5 loser component stocks were :-
1. JMH 400US$ -1.750
2. Jardine C&C -1.400
3. JSH 500US$ -0.930
4. HKLand US$ -0.110
5. F&N -0.070
US markets closed positive yesterday night with S&P500 hitting the 1,400 level after a better than expected jobless claims figure and manufacturing data. Asian bourses were however mixed for the day with Nikkei closed +0.06%, SSE +1.30% rebounding from past 2 days slide and HSI -0.17%. STI fell 0.50% in a thin volume day with 14 of the 30 index stocks registered positive closing.
This morning Singapore Government announced a better than expected February non-oil export data of +30.5% vs +18.0% and estimate 2012 GDP to be +2.5%. However, STI pretty much ignore the good set of data as well as the positive momentum of US markets as today is stock and index option/future expiry date. There were big volume of transaction on on those index related stocks swinging the price from one way to another which resulted in a 0.50% drop whereas most of the day STI was relatively flat.
Investors could be cheering with the strength in US markets but do be cautious as markets went up in thin volume and no doubt US economy is recovering but overly optimistic and rallied up the market is never a wise move. Chances of prices overrun the fundamental is very high. As the overly optimism dies down, market will start to pull back. Investors are advised not to chase the market.
