1. JSH 500US$ +0.410
2. CityDev +0.280
3. DBS +0.070
3. Jardine C&C +0.050
5. SembMar +0.030
The top 5 loser component stocks were :-
1. JMH 400US$ -0.710
2. SIA -0.120
3. UOB -0.110
4. KepCorp -0.070
5. HKLand US$ -0.060
US markets closed mixed yesterday after the ADP number came in below expectation but did managed to rebound from session low. Asian bourses after yesterday rallied mostly came under profit taking and closing the day in the red. Nikkei was closed for holiday, SSE +0.07% and HSI -0.28%. STI fell 0.17% in a quiet session with volume came in just below 3 billion but total value less than S$1b indicating most activities were around the penny stocks. Only 10 of the 30 index stocks managed to register positive closing.
The weak ADP number could be indicating this Friday the non-farm payroll might not be a good set of data and caused some concern for investors. EU side with the continuity of the austerity vs growth issue caused some to speculate ECB might be cutting rate soon to salvage some support for EU growth. Reduce in interest rate might not be enough to jump start the EU economy and attention should be turning to EU leaders to refocus their policies back to growth. This is something worth watching in the near term.
Singapore companies so far have been producing firm set of earnings and the fundamental of that could be supporting the stock prices. There is something worth noting since last months till now with those stocks went to Ex-Dividend. Stock prices though fell due to Ex-Dividend but somehow manage to find support in the previous support level ( the level before dividend was announced ) and some even managed to push back up to the level just before Ex-Dividend. This is in particularly true for Reits. If there isn't any funds trying to dispose of shares and with the price firms up at current level, a potential breakout could be seen for those stocks. This is something investors might want to monitor closely.
