1. Jardine C&C +1.00
2. DBS +0.180
3. SembCorp +0.130
4. StarHub +0.090
5. KepCorp +0.080
5. SembMar +0.080
5. UOB +0.080
The top 5 loser component stocks were :-
1. JSH 500US$ -0.690
2. JMH 400US$ -0.250
3. Genting SP -0.035
4. NobleGrp -0.025
5. Capitaland -0.020
US markets managed to edge out a positive closing last Friday in a rather directionless day. Asian bourses were mostly red for the day due to lacking of catalysts. Nikkei closed -0.07%, SSE -1.51% and HSI -0.27%. STI managed to inch out a positive 0.35% closing in thin volume day. 21 of the 30 index stocks managed to post positive closing.
Earning season coming to the end, no positive catalysts, stock prices have been on a rise since mid-June, taking profit, fund managers adjusting portfolio and slowly EU debt issue will resurface again which caused market to be directionless, moving sideway. Olympic 2012 officially closed and EU leaders should be refocusing back to the EU issue soon. As majority are concerned about the borrowing cost of Spain and Italy and looking for ECB to provide short-term solutions, many have forgotten the most basic and fundamental solution to the EU debt crisis, that is Growth vs Austerity. Do not shift the focus away from the core issue in EU ( Growth vs Austerity ) it is through tackling this core issue that can provide long term solution to EU debt crisis. Investors should monitoring closely what's the next step EU leaders going to do to ( measures or policies ) to address the Growth vs Austerity.
