Market Review and Trends
STI – Will it head for new YTD high after S&P500 clocked its 7th consecutive day of rally? (6 Jul 2021)
By Ernest Lim's investing blog  •  July 6, 2021
Dear all S&P500 and Nasdaq clinch fresh record highs last Friday with S&P500 clocking in seven consecutive days of gains in its longest winning streak since August 2020. Despite the roaring U.S. markets, Singapore Straits Times Index (“STI”) has slipped almost 100 points from its 2021 intraday high of 3,237 on 30 Apr 2021 to close 3,141 on 5 Jul 2021. Can STI exceed 3,237 for 2HFY2021? Most strategists believe so, as their year-end targets for STI are easily above 3,237. Let’s look at the possible reasons why analysts are positive on our Singapore market. Reasons to be optimistic on our Singapore market in 2HFY21
  1. A) Most analysts are positive on STI with year-end target >=3,400
Based on this website (click HERE), most analysts are positive on our Singapore market, fuelled by re-opening of economies; good control of Covid situation, respectable GDP growth etc.
  1. b) STI has one of the lowest relative valuations among regional stock markets
...
Read the full article
By Ernest Lim's investing blog
I am an avid investor, trader cum remisier. I am a Chartered Financial Analyst® charterholder, as well as, a Chartered Accountant of Singapore. I have published articles on a wide range of topics on finance and investment, ranging from market / sector outlook, technical analysis and fundamental analysis etc.
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance