1. CityDev +0.180
2. UOB +0.09
3. GLP +0.020
4. HKLand US$ +0.020
5. GoldenAgr +0.010
5. SGX +0.010
5. SembMar +0.010
The top 5 loser component stocks were :-
1. Jardine C&C -0.820
2. JMH 400US$ -0.450
3. JSH 500US$ -0.390
4. DBS -0.140
5. SIA -0.110
US markets fell average 0.30% yesterday night giving up earlier gain as profit taking kicked in after high the past days. Asian bourses taking the cue all traded in the red for the day. Nikkei closed -0.27% after reporting swing to trade deficit, SSE -0.50% and HSI -1.06%. STI in line with regional bourses fell 0.53% in thin volume day, total value of the day came in below S$1b and only 7 of the 30 index stocks managed to record positive closing.
Lacking of further positive catalysts apart from the ongoing ECB possible role of bond buying and with global indicies hitting high, profit taking was on the mind of investors. Basically, it was a selling day for STI since the start of the bell but if observed closely, the underlying buying strength in selective stocks ( like S-Reit ) still there. Global interest rate is low, cheap money lying around with no where to go will have to seek dividend yield. This is where the underlying strength of high dividend yield stocks came from.
While for past weeks talk on hope of stimulus was on the card to play up the markets. As mentioned before, do not speculate and anticipate for stimulus play if not will get caught in the market. Focus on the fundamental instead. From the bigger picture, the stimulus package be it from US or ECB is never a long term solution to the underlying problem and that has to be strongly kept in mind.
