1. JSH 500US$ +0.970
2. JMH 400US$ +0.200
3. F&N +0.180
4. CityDev +0.100
5. UOB +0.100
The top 5 loser component stocks were :-
1. SembCorp -0.150
2. SIA -0.060
3. SembMar -0.050
4. Jardine C&C -0.050
5. OCBC -0.040
US markets rose with Nasdaq gaining more than 2% yesterday night after US Fed raised US economy growth forecast and projecting lower unemployment rate for the year while maintaining low interest rate till 2014. Asian bourses mostly closed positive for the day with Nikkei closed +0.01%, SSE -0.09% and HSI +0.79%. STI mostly flattish throughout the day closing +0.06% in a heavy volume of more than 3 billion with 12 of the 30 index stocks registered positive closing.
US Fed statement in raising the growth forecast and employment situation was encouraging while like expected maintain it's stand on stimulus ( ready if applicable ) hence more or less ruling out QE3 for the time being ( which is expected and wise move ). EU nations meanwhile are in some political events in the moment with couple of nations having election these few months. It is like more than 6 months since the EU debt issue sank to its lowest point and while the debt crisis still remain unchanged, the overall picture has improved as compared 6 months ago after several debt nations undergoing restructuring. Perhaps it is time for investors to start monitoring for growth in EU after those political events come to an end.
Singapore released its March Manufacturing Output today coming in -3.4% on year vs -6.0% expected. While the figure still indicating contraction but showing sign of improvement. The daily volume has almost half from yesterday indicating though much of the trading activities still focus on the penny but has toned down. Investors who trying to punt for quick profit should be careful now. When the music stops, be sure not the one who is standing in the musical chair game. Stressed again, do not ignore or neglect the fundamental strong stocks, weakness is opportunity.
