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Bank stocks hold the key to where the Straits Times Index (FSSTI) will go…..
By Kevin Scully-Financial Blog  •  February 5, 2014
Bank stocks hold the key to where the Straits Times Index (FSSTI) will go..... Wednesday, 5 February, 2014  8:19 AM
Posted by Kevin Scully

 I had some feedback yesterday about my support level for the Straits Times Index at 2600.  Some felt it was too bearish and that we are in a much healthier position today.  Nobody really knows where the markets are headed.  Sentiment and herd instinct will be key determinants and these will be driven by mutual fund flows. So if the funds continue to flow out of emerging markets back to the US market on perceived US$ strength we can expect the same.

Finance stocks account for about 30-35% of the weighting of the FSSTI Index.  Finance stocks contributed to 50% of the decline in the FSSTI Index yesterday according to Bloomberg.  So finance stocks hold the key to where the FSSTI Index is headed.

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By Kevin Scully-Financial Blog
Kevin began his working life in the regional and economics division of the Ministry of Foreign Affairs. He then moved to the private sector analyzing equities before venturing out to start NRA Capital. After 25 years of watching stocks and living through financial disarray during the Pan Electric Crisis, the 1987 Crash, the Barings debacle, the Gulf War, Asian financial crisis - what can sub-prime do but add another scar to already bruised wounds. Ever since starting his blog, Kevin has been enthusiastically giving his personal views on the market. He discusses about equities, the market turmoil, and the broad economy.
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