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
- 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.
- b) STI has one of the lowest relative valuations among regional stock markets
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