North Korea threats sent jitters to Straits Times Index

North Korea threats sent jitters to Straits Times Index

Last week, STI failed to stay above 3315 level as fresh concerns shaken the market confidence. The threats from North Korean drew concerns that it will impact Asian markets if the war breaks out. Market participants decided to take the cautious approach and took profits off the bullish market. The week started flat as it faced resistance at 3315 level. On Tuesday, STI managed to break 3315 resistance slightly but it was not convincing enough. It struggled to trade higher on the next day but it failed to maintain above the resistance level. Selling action started pouring in on Thursday, followed by Friday. This selling action shows that market participants are unwilling to hold on their positions over the weekend as the concerns got stronger. Last Friday night, DJI closed lower again with 40.86pts down. Will STI continue to retrace …