1. Jardine C&C +0.400
2. F&N +0.210
3. SembCorp +0.150
4. UOB +0.150
5. SembMar +0.080
The top 5 loser component stocks were :-
1. JMH 400US$ -2.680
2. JSH 500US$ -0.570
3. OCBC -0.140
4. SIA Engg -0.110
5. DBS -0.080
US markets closed positive again with average +0.5%. Asian bourses were mixed for the day with Nikkei closed +0.88%, SSE +0.16% and HSI -0.04%. STI fell 0.50% in moderate volume with only 12 of the 30 index stocks registered positive closing.
With earning season coming to an end, markets in general is building on hope for action from US Fed and ECB in September. Other than that, nothing much of catalyst to propel the market further. Fundamentally, markets are over-stretched and pull back should be coming along.
With STI closed for national day tomorrow, investors took profit not willing to hold position over the holiday. Singapore earning season also about coming to an end with a few more blue chips like SingTel, CityDev, Wilmar and Olam yet to release their earning. It should be done with within the next 1 to 2 week times. After that, market will move into sideway doing consolidating or range bound mode. This is where short-term investors can get caught as market will again focus on EU and US issue which any events or news subject to positive or negative will cause volatile swing to the market.
Another event that dominate STI was ThaiBev did a counter offer for APB at S$55/share after Heineken's offer of S$50/share. That caused both F&N and APB share to rose among the sea of red for the day. The bidding war might be just begin in probably a directionless and range bound market.
