1. UOB +0.190
2. CapitaMall +0.050
3. SingTel +0.050
4. Capitaland +0.040
5. CapMallsAsia +0.035
The top 5 loser component stocks were :-
1. JMH 400US$ -0.900
2. JSH 500US$ -0.840
3. Jardine C&C -0.370
4. KepCorp -0.210
5. F&N -0.190
US markets fell at least 1% yesterday night weighed down by the concern of Spain. Asian bouses going into last day for May all ended in the red. Nikkei closed -1.05%, SSE -0.52% and HSI -0.32%. STI closed -0.41% with a higher volume and total value for the day. Only 8 of the 30 index stocks managed to register positive closing.
It was Spain after Greece. Despite Spanish Government citing they do not required international bailout, global investors still no confidence in it and selling down the market perhaps to create a panic situation so that even if Spain does not need the bailout, the global pressure also force it to accept it. If such a case is true then any selling down to cheap valuation is great opportunity to buy.
For STI today is the last day of the month and as mentioned yesterday will be window dressing by fund managers as indicated by the total value of the day exceeding S$1b. While STI closed in the red, selective stocks have been window dressed up and number of gainer exceed number of loser. Lot of analysts are anticipating where is the support for STI with some said at 2,760 and some at 2,700. Have to remind investors that DO NOT use where the support of STI is to buy. Look at the fundamental and valuation of each of the individual stocks. After all, most of the call by the analysts are WRONG.
Tomorrow will be the start of last month for 1H2012. Watch out for the game changers and be mentally prepared for one more panic dip before the reversal and that will be the signal to bargain hunt. Focus on valuation of individual stocks and ignore most of the noises.
When you feel the fear in you is at the extreme, that is the moment to hit the buy.
