1. Jardine C&C +0.440
2. DBS +0.150
3. UOB +0.150
4. Wilmar +0.150
5. SembMar +0.130
The top 5 loser component stocks were :-
1. JMH 400US$ -0.250
2. JSH 500US$ -0.170
3. HKLand US$ -0.070
4. KepCorp -0.050
5. Capitaland -0.040
US markets closed mixed yesterday night as investors awaiting for outcome of tonight Fed FOMC Meeting. Asian bourses were mostly positive for the day. Nikkei closed +1.11%, SSE -0.34% and HSI +0.53%. STI advanced 0.47% in a moderate volume day but total value for the day still came in under S$1b. 18 of the 30 index stocks managed to register positive closing.
Recap of past days events. Greece pro-bailout party won the election and at the moment is in the process of forming a coalition government and the outcome of the election brought some relief to the global financial sector. Outcome of G20 meeting was emerging countries especially Brics pledged to support and increase IMF funding to tackle EU debt crisis. Though nothing has come out from EU leaders on how to resolve the debt issue, the support from rest of the world more or less bring some foundation to EU nations to solve the debt crisis. All eyes will be on end of the month EU Summit as of what measures and policies EU leaders will propose to stimulate growth and at the same time cutting down debt.
Global markets also rose on the hope that US Fed will launch stimulus. Never ever bet on that !!!
Should global stock markets rally due to fundamental reasons or positive development from EU leaders towards the debt crisis, that is very very much justify. Anticipating for US Fed launching stimulus ? That is a wrong move to solve US slow economy growth and high unemployment rate.
What investors should focus on now is development from EU leaders leading towards the EU Summit and end of the month 1H window dressing.
