1st Quarter earnings leads to cautiousness in Straits Times Index
1st quarter earnings announcements have started rolling out last week as market participants were busy understanding the change in companies performances are the reporting. During this period, many decided to stay cautious and stayed out of the market. Hence, Straits Times Index was affected and started the week bearishly. Geopolitical tensions were also cited as another contributor to the bearish start. North Korean and French election dominated the headlines last weeks. No doubt, these fears have pushed STI to as low as 3113.9 level during the week. However, presences of bargain hunters are still holding the market well as STI refuses to stay at the low side. The week closes at 3139.83 level despite strong selling pressure during the mid week. A total of 29.41pts was lost.
Cautiousness can continue this week as 1st quarter …Read the full article →