Eventually investors will get used to inflation and rising rates
There has been little to no movements for the past 2 weeks because the global economy still remains weak for the most part. As for STI, we have been consolidating because our major bank counters are actively increasing loan interest ranks to match the increase of the Fed fund rate. On top of that inflation continues to threaten global supply chains and causing energy and food prices to shoot up that eats into the profit margins of companies recovering from the Pandemic. For now we are still waiting for some form of impactful news as there might be some new developments from the war.
STI – Updated Daily Chart
Lacking the willing to head up, STI continues to stay weakened for the time being. Unless prices stabilise, counters depending on the recovery of the pandemic cannot head up. If the interest rates continue to head up, equity markets will continue to stay mellow....