Friday, October 12, 2018

SINGAPORE STOCKS: IS THE STOCKS MARKETS CORRECTIONS HERE?

Singapore Stocks
Dear readers, yesterday the Singapore stocks went south by 2.69%! And as a result, the Singapore STI went down to 3,047.39! While many investors must have been caught by surprise at the downturn of the Singapore stocks, if you are to share what I have been thinking all along and as shared in my earlier posts: there are simply no catalysts in the near term to support a bullish view of the global equities. The way forward for global equities including local stocks is south.
As shared in my previous post here  ; the STI is poised to reach the 3,000 level and after this level has been crossed, I believe the downward momentum for Singapore stocks would be faster. Since 3,000 is the oft-cited psychological level of investors and heading south next will be the 2,880 support level.

I would then think the 2,880 level of the STI would then be deemed a decent level to say Singapore stocks corrected based on a 20% correction of the intra-year high of 3,600 of the STI. Many people say Singapore stocks are cheap now but this is because we compare the performance of Singapore against the high base in year 2017. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.


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