North Korea Tension to impact Straits Times Index’s performance.

The month of August ended with a bullish week, with Straits Times Index gaining 17.69pts for the week despite concerns over North Korea firing a missile over Japan. For the start of the week, STI faces resistance from 3270 level which stops the market from going higher. Knee jerk reaction was felt Tuesday when reports of North Korea’s missile flew of Japan was announced. However, this did not push the market lower the next day after the report. Instead, STI rebounded firmly towards 3270 level. With figures from US economic report, US market performed strongly on Wednesday night. This leads to strong opening by STI which brings STI above 3270. STI closes the short week at 3277.26 level; bringing 52.26pts down for the month of August.

It was being reported that North Korea did a larger scale of …