1. JMH 400US$ +0.550
2. JSH 500US$ +0.170
3. KepCorp +0.170
4. F&N +0.080
5. CityDev +0.070
5. SembCorp +0.070
The top 5 loser component stocks were :-
1. UOB -0.200
2. StarHub -0.110
3. SingTel -0.070
4. Jardine C&C -0.070
5. Capitaland -0.070
US markets closed mixed yesterday night after economic data from trades and jobless claims indicating US economy still moving. Asian bourses after yesterday of upwards movement due to China's inflation coming in at +1.8% ( hope for more monetary easing ) were mostly closed in the red. Nikkei -0.97%, SSE -0.24% and HSI -0.66%. STI reopened trading after yesterday holiday came in better than regional bourses with a +0.06% closing in moderate volume day. 20 of the 30 index stocks managed to register positive closing.
It was an economic data day that dictated the direction of regional bourses. China data of import and export came in below expectation and that caused regional bourses to give back yesterday gain. Singapore this morning released its 2Q GDP coming in at -0.7% better than expected of -1.1%. The weak economic data globally indicating a global slow down and that also paints a picture of potentially more policies easing ( from Asian countries ). As for US and Europe, the same old issues and they the political leaders just have to think of way to save it rather than keep pining on hope of Central Banks printing money ( it will not work in the long run to save the economy ).
Another event that stole the spotlight for STI today was the over 18 millions of share of F&N was married deal at a price of S$8.60 and speculation was that the buyer could be ThaiBev and that continued the competition in gaining control of APB. As a whole, from the STI movement was directionless but the number of advance outnumbered those of decline indicating some underlying bargain hunting strength in the market. To be exact, STI is undergoing range bound and sideway movement. Should those investors who rely of TA to view the market, it will get caught be it on the downside or the upside. Range bound market is not easy to trade but putting on a value/fundamental investor hat, it will be a totally different story.
