1. DBS +0.180
2. UOB +0.130
3. F&N +0.100
4. Jardine C&C +0.100
5. SIA +0.080
5. StarHub +0.080
The top 5 loser component stocks were :-
1. JMH 400US$ -0.250
2. KepCorp -0.130
3. JSH 500US$ -0.060
4. Capitaland -0.050
5. GLP -0.040
US markets closed mixed and flattish yesterday night with both Nasdaq and S&P500 inched out slight gain but DJ closed in the red as investors digested the France and Greece election and the awful job data last Friday. Asian bourses after yesterday massive selling down closed mixed for the day. Nikkei closed +0.69%, SSE -0.12% and HSI -0.25%. STI closed +0.24% in another moderate volume day with 18 of the 30 index stocks managed to register positive closing.
The overhang of the France and Greece election still there for Asian bourses as the rebound came in weak as concern of how can the new French President works with German leader and Greece without representable Government how to deal with the bailout and survival in the Euro. All these uncertainties perhaps will have to wait till the EU Summit in end of June then will have a clearer picture. The new French President's Hollande might be on the opposite frequency as German leader but his idea of start focusing on growth might turn out to be something that can balance between austerity and growth. Austerity measures are still a must in EU to reduce the debt but with the impact from that ( high unemployment, recession situation, social unrest ), it is about time to find a balance between austerity and growth and Hollande might come in at the correct timing. As for Greece, the option of Greece going default and eventually leave Euro still there and for long run it is better for Greece to do so. For the good for Greece and Euro zone as a whole. There is nothing to be overly pessimistic or optimistic about the EU situation now.
US employment situation can only sum up as urgent need for the lawmakers to do something about creating jobs and now waiting for US Fed to launch another QE to save it. The declining or weakening of job data might be the catalysts to put some urgent pressure on the lawmakers to wake up and do something about it.
For Singapore, corporate earnings have been firm and mostly positive for 1Q2012. The fundamental is there and based on that, any illogical weakness in share price will be good opportunity to accumulate.
