Dear all
With reference to my market outlook published on 3 Oct (see HERE) citing opportunities in our Singapore market, STI has soared 191 points, or 6.3% from 3,051 on 1 Oct to close at a year to date high 3,242 on 5 Nov.
Will STI continue to march higher, or will there be some profit taking?
This post was originally posted here. Ernest Lim provide readers with in-depth insights into SGX listed companies. His writings have been featured in various mainstream & online media. Holding both a CFA® charter and CA Singapore designation, Ernest is an avid investor, trader & remisier, having 528 followers in InvestingNote.
Very briefly, my personal view is
It is likely that STI may face some profit taking in the near term, attributable in part to the following factors:
a) With reference to Figure 1 below, MSCI Singapore index will undergo a rebalancing in end Nov. The largest impact will be felt by our Singapore banks and Singtel where their weightage...