For those of us who have been actively reallocating our capital back from stocks to cash, you should be positioned well for the coming weeks as there will be obvious discounts in the Singapore Market due to the latest shock sent via additional harsh restrictions. Anyway, Singapore’s correction is in line with its recent rallies and the fairly well-known “Sell in March, Buy in May” practice. From my point of view, the market is less affected by the news compared to 2020 because many businesses have adapted to the impacts of the pandemic in one way or another. Additionally, this shock came with multiple warnings after new clusters started forming in Singapore. If anything, I would think that this temporary “CB-Like” event is beneficial for business restructuring and of course for our citizen’s health.
STI – Updated Daily Chart
STI has crossed both support lines...