1. Jardine C&C +0.550
2. UOB +0.200
3. NobleGrp +0.135
4. Olam +0.120
5. DBS +0.100
The top 5 loser component stocks were :-
1. CityDev -0.150
2. F&N -0.040
3. SingTel -0.030
4. CapitaMall -0.020
5. JSH 500US$ -0.010
5. GLP -0.010
US markets closed mixed yesterday night in the lowest volume for this year. Asian bourses were positive for the day with Nikkei closed +0.50%, SSE +0.30% and HSI +1.05%. STI closed +0.75% hitting a new 52-week high with a big volume and value day. 24 of the 30 index stocks closed positive.
Investors focusing back to EU debt crisis as EU leaders coming back from summer holiday and without any doubts, any up movement of the markets, it will link with stimulus ( from US or Europe ). Advice, don't speculate on such a thing and instead focus on the global events and fundamental of the stocks. GDP data from Germany and France came in better than expected and that provided some lift and bargain hunting to STI in the afternoon.
Next, don't get shocked with the big volume and value for STI. This was due to the block trade of ThaiBev buying F&N shares of 312,986,000 at S$8.88. Minus off that transaction, total volume of the day was roughly 1.7 billion in the moderate range. Apart from that F&N transaction, STI today was dominated by earning. SingTel and CityDev fell due to missing expectation and earning while NobleGrp beating expectation earning lifted the commodity sector coupling with banking and offshore/marine stocks helped pushed STI to new 52-week high.
There is something need to stress here. Since August last year till now, there is a trend whereby the market is squeezing the TA traders be it on long or short position when those traded by the charts. Good luck to TA traders, you need more as more will be coming.
Lastly, concerning EU debt crisis, filter off the stimulus issue, focus back to the growth vs austerity issue and monitor for measures or policies relating to this from EU leaders. The game changer is that and should remain focus on that.
