1. Jardine C&C +1.410
2. DBS +0.130
3. F&N +0.100
4. JMH 400US$ +0.050
5. SGX +0.050
The top 5 loser component stocks were :-
1. JSH 500US$ -0.300
2. UOB -0.060
3. SembMar -0.050
4. StarHub -0.020
5. SIA -0.020
US markets closed mixed yesterday after the steep sell off last Friday as uncertainties over EU debt crisis, China slowing down and US own economy recovery. Asian bourses managed to rebound from yesterday selling of after news of G7 emergency meeting tonight in which discussion on EU debt crisis will be in focus. Nikkei closed +1.04%, SSE +0.15% and HSI +0.40%. STI recovered some of yesterday loss with a +0.50% closing but in a very thin volume coming in less than 1 billion. 21 of the 30 index stocks managed to register positive closing.
Market was divided ahead of G7 emergency meeting in which short-covering pushed price up but lacking of buying interest cap the upside. Though there will be a G7 meeting to discuss on EU debt crisis, any major measures or policies are not expected to announce leading the investors lack in interest in buying up afraid of being caught after a possible disappointment in the outcome of those meetings. European bourses initially opened in positive region but as report of Euro-Area manufacturing and Services shrink, European bourses sank to the red together with US future and that future prevent any bargain hunting on STI near closing stage.
What investors need to monitor for the outcome of the G7 meetings should be consensus among those leaders in working out some measures to tackle the crisis. That is a small step in the positive direction and perhaps lay some foundation for end of the month EU Summit.
