Global concerns mounts on the back of divisive news
Since February, the world started to show signs of divisiveness as views on national interests seem to conflict dominant narratives. As such, markets are also aware that geopolitical instabilities will also affect market sentiments because the world is interdependent because of globalisation. In addition to that, China is also facing lockdowns in Shanghai due to the pandemic and as this stretches out, its economy will also be strained along with international firms that are based in Shanghai. At the moment, investments around the world will take a while before it continues on an upward trend.
STI – Updated Daily Chart
After a sharp U-turn, the STI daily chart showed we are heading toward 3325.
Using moving averaging, the chart shows that the next 100 days MA is starting to plateau and might also invert eventually if we head lower in the coming week....