The first trading week for global bourses were shaped by the frenzied China’s stocks markets. As a result, the STI which closed at 2,882.73 on 31 Dec 2015 closed at 2,751.23 on 8 Jan 2016. This was a 5.81% south for the STI for the first trading week of year 2016. Going forward, I believe there will be a slight improvement in Singapore stocks as the Singapore stocks were already so much oversold for the first week of year 2016.
A stock in focus was Noble Group stock. Noble Group stock traded at $0.40 on 1 Jan 2016 and closed at $0.34 on 8 Jan 2016, headed south by 15% for the first trading week of year 2016. This was due to S&P joining Moody’s in cutting Noble Group stock investment grading to “junk”. Noble Group management should continue to show to investors how fundamentally ......