Straits Times Index affected by US shutdown and trading curbs.
The 1st week of Oct turns out to be bearish one for STI was multiple concerns happened in the market during the week. It was first the shutdown of US government after a gridlock on their fiscal policy. Thereafter, trading curbs imposed by various brokerages send some penny stock plunging drastically on Friday. SGX suspended Blumont, Asiasons and GoldLion on that that to manage the drastic drop of more than 50%. These had been the talk of the week which sends traders fleeing out of the market last week. Day by day, STI experienced fresh pool of selling pressure despite its attempts to rebound in its individual days. Buyers were avoiding the market or are being cautious in catching bargains. Hence, for the whole week, STI was seen down by 72.1pts and close at 3138 level. Over the ...
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