Straits Times Index boosted by property cooling measures
Straits Times Index managed to end another week bullishly and continued to head towards its strong resistance at 3160 level. Volatility was seen during the week; moving like a headless creature. The highest that STI had attempted to reach is at 3150 level which was clocked on Wednesday. However, this gain was quickly given back on Thursday where strong selling pressure happened due to falling oil price. On the last day of the week, the day started weakly until Singapore Government announced the easing of property measure. The market reacted by pushing property prices higher, causing STI to make back its gains for the week. Hence, STI is able to close at 3133 level with 11.01pts up for the week.
This week will be the key week for many market watchers. The confirmation of US interest rate hike. Many have already …Read the full article →