Straits Times Index continues to consolidate.

Straits Times Index ended the month of September without much trading actions are many traders and investors seems to be staying sidelines. US interest rate and tax reforms news seems to be affecting the market. This news triggered tightly ranged swing movements in the market last week. The start of the week shows bullish attempts but it was quick to be beaten down by the bears on Tuesday. However, with confidence that US interest rate hike will more likely to occur during the end of the year, financial gains strength which pushed STI to as high as 3250 level. But coming close to the week, profit taking actions cleared all the gains achieved. Hence, STI was seen closing the week with only 0.34pts down, ending at 3219.91 level.

Indeed, STI is currently running on a consolidative mode where it cannot break out …