Singapore’s stocks markets are closed today for Hari Raya Haji holidays. Singapore stocks markets will open tomorrow and when the markets open, I expect Singapore stocks to take cues from the performance of US stocks last week which took quite a beating since the news of “Brexit”. The reasons which I need no introduction here are that news of US Federal Reserves scaling up the interest rate soon have resurfaced again.Definitely, US Federal Reserves will increase interest rate, this is not a matter of “whether” but “when” and many are now thinking that an interest rate announcement in Sep 2016 US Federal Reserves meeting could not be ruled out.
I expect many stocks to head south in view of the above. Stocks with a decent dividends rates like telecoms, Reits will not fare as well since investors have theoretically more choices of better returns with an increase in interest ......