1. JMH USD +0.500
2. Kep Corp +0.150
3. CityDev +0.100
4. HongkongLand USD +0.090
5. JSH USD +0.090
The top 5 loser component stocks were :-
1. SIA -0.210
2. DBS -0.110
3. SGX -0.100
4. Jardine C&C -0.080
5. UOB -0.060
5. OCBC -0.060
US markets rallied snapping a 5-days drop to close at least +1% last Friday. Asian bourses were however mixed with Nikkei +0.89%, SSE -7.70% and HSI -1.51%. STI started positive but swinging between gain and loss to eventually close +0.21% in typical volume but thinner value with 16 of the 30 index stocks posted gain.
Crude oil price rebound together with some positive economic data allowed US markets to finally halt a 5-days drop. Asian markets were mixed as hit by a crash in SSE dropping more than 7% after regulators clamped down in illegal activities in margin trading affecting the positive sentiment. This week apart from corporate earning, couple of important events will be taking place. Tomorrow will see the release of China FY GDP for 2014 which most expected to fall below expectation followed by Thursday ECB meeting in which most expecting ECB to announce QE. The one to watch out for is the size of the QE. With the action by SNB last week, victim of that ranging from banks and fund houses started to surface. How that eventually impact on global economy still unknown. That move could even trigger ECB to launch a more than aggressive stimulus package this coming Thursday.
STI started the day with a gain but fell into negative affected by the crash of SSE and HSI but managed to reclaim those gain in the afternoon session after European markets opened positive. Today also see the commence of the new board lot size changing from 1000 shares to 100 shares. The aim accordingly is to increase retail participation as more retails could afford to purchase the more expensive blue chips. However, after 1 day, see no increase in trading volume though. The intention of the change might be good but the brokerage structure might also change to see the eventual effectiveness.
It took at least 23 minutes with 30 separate transactions to eventually get 10,000 shares done. In another case, it took more than 2 hr and 40 min but still fail to complete 1000 shares. Is that good for trading ?
