1. JMH 400US$ +0.380
2. F&N +0.130
3. KepCorp +0.110
4. HKLand US$ +0.090
5. OCBC +0.060
The top 5 loser component stocks were :-
1. DBS -0.080
2. SIA -0.060
3. UOB -0.020
4. SingTel -0.010
5. SPH -0.010
US markets fell last Friday as EU debt crisis still weigh on investors and the much talk about Facebook IPO debut was hit with a glitch and became a no-show event. Asian bourses were mixed for the day with a momentum for technical rebound due to very oversold condition. Nikkei closed +0.26%, SSE +0.16% and HSI -0.16%. STI swinging between positive and negative managed to close +0.40% in thin volume and total value came in less than S$1b, indicating very cautious play. 21 of the 30 index stocks managed to register positive closing.
Over the weekend outcome of G8 Summit indeed met with the minimum expectation of G8 leaders all agreed to EU need to stimulate growth, possibility of trade-off some steep austerity measures and at the same time urged Greece with the coming election in mid June to vote for staying in Euro. China Premier Wen Jiabao yesterday made public comment that China is in need to stimulate growth and that put a potential monetary easing and stimulus in the near term. Those news which biased towards the positive side, helped most of the bourses rebound from last week sold down. However, there were also news that EU are also in the progress of making contingency plan should the case of Greece exit Euro. While that on the surface looks like a bad news but have to remember if there is no contingency plan and should Greece after next month election indeed have to exit Euro then there will be chaotic. The contingency plan is to prevent any chaotic moment. Not really a bad news.
