1. JMH USD +0.540
2. Jardine C&C +0.110
3. HongkongLand USD +0.080
4. SGX +0.060
5. ComfortDelGro +0.040
The top 5 loser component stocks were :-
1. SIA -0.370
2. JSH USD -0.150
3. DBS -0.110
4. CityDev -0.080
5. ST Engg -0.050
US markets closed in the red yesterday with a drop of at least 0.20% and Asian bourses were mostly in the red for the day with Nikkei -1.19%, SSE +0.22% and HSI -0.99%. STI in line with regional bourses fell 0.36% in higher volume but thin value with 11 of the 30 index stocks posted gain.
Weak corporate earning from tech stocks dragged down US markets and with more tech companies releasing weak earning after the bell, the sentiment can never be positive for global markets. Asian markets were mostly in the red weighed down by weak US earning, drop in commodities price, crude oil price and gold price. The weak earning from US tech companies is not something unexpected given that USD has been strengthening for the past months. While US markets which looked expensive despite so many called that US economy will be better in 2H2015, rest of the world might not be so.
STI tracking regional markets dip lower but broader market was a playground for penny stocks as punters punting those cheap penny stocks without much fundamental to talk about to churn gain. Those gain might be attracting but beware of being caught. So far not much downside reported on corporate earning and investors should be focus on the blue chips and those with better fundamental stocks. Weakness in those is an opportunity !
