Straits Times Index maybe at a crossroad now

Straits Times Index maybe at a crossroad now

The Straits Times Index was on a festive mood last week as Chinese New Year spans over Monday and Tuesday where the market was closed for the celebration. The week was a short one as there is only 3 trading days. Despite being a short week, STI is still able to exhibit certain levels of volatility. The week started off with a gap up movement as STI reacted to the positive data from the China economy. Traders were confident with the sustainability of the current bullish run which caused STI to close at high. However, the buying fizzles off the next day as profit takers loom the market. The profit takers were seen in the market for last 2 days of the week which returned part of the gains it had achieved. Eventually, STI is still able to close positively for the …