Straits Times Index to hover around 3170 level

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Straits Times Index to hover around 3170 level

It has been a quiet week for Straits Times Index as market participants remains cautious on the outcome of the visit of US president Trump to China. Talks between the 2 countries are ongoing currently but early reports are showing that they are building up with some trade ties; in oppose to what was widely speculated. The week started with positive sentiment that was quick to lose its steam. Bearish pressure was seen on Wednesday but there are bargain hunters supporting STI at 3170 level. This action repeated for the rest of the week and it helped STI to stay above 3170 level. Trading volume was seen lower last week and this reinforces the cautious sentiment. Hence, with cautiousness, STI close at 3177.27 level with a mere 2.16pts up.

With ongoing talk and upcoming economic data to be reported, how …

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