1. HKLand US$ +0.030
2. SPH +0.020
3. GLP +0.010
4. StarHub +0.010
The top 5 loser component stocks were :-
1. Jardine C&C -0.870
2. JMH 400US$ -0.600
3. UOB -0.430
4. JSH 500US$ -0.290
5. CityDev -0.170
US markets closed in the red yesterday but managed to recover from intra-day low after series of missing expectation set of data in GDP, jobless claims and ADP number. Asian bourses mostly closed in the red with Nikkei -1.20%, SSE +0.09% and HSI -0.38%. STI fell 0.97% in thin volume and total value of the day came in less than S$1b. Only 4 of the 30 index stocks managed to register positive closing.
China reported its official May PMI data and came in at 50.4 well below expectation indicating slowing manufacturing activities. This further add on to the EU debt crisis which now focusing on Spain. STI after yesterday of month end window dressing, most of the stocks that were pop up yesterday gave back their gain. Investors will be looking at tonight US unemployment data and with a weaker than expected ADP number, the job data will not be bright either.
Today is the start of the last month for 1H2012. With events still on EU debt crisis for past 2 months, June will be crucial due to the EU Summit at end of June. Austerity vs Growth issue will be in focus and it is through stimulating growth that can save Spain and Italy from fallen further down the debt channels. Game changers for this month but before that, be mentally prepared for one more panic selling down first.
