Dear readers, these few days, the Singapore Stocks Markets seem to be on a roll! Just yesterday, the Straits Times Index bounced up by 3.67% to 2,705. Yesterday’s great performance of Singapore Stocks Markets was just another successive rally for Singapore stocks markets in recent session. The rally has been mainly due to Joe Biden’s win at the US Presidential Election and the promise of a vaccine soon for Covid-19.
On 30 Oct 2020, the Straits Times Index was 2,423.84 and fast forward to yesterday’s 2,705, the Singapore stocks markets has recorded 11.6% gain! It seems really that there has been a 11 11 sale (yes today is 11 11 or 11 Nov 2020) on Singapore stocks markets recently with investors buying and buying Singapore stocks in line with the buoyant mood of the Singapore stocks markets now.
To be frank, the rally of the Singapore stocks markets has surprised me and I think many. But I would continue to stick to my narrative that a market correction is on the card for Singapore stocks and the US stocks markets. The macro outlook for many economies is still bleak and bearish. When all the knee-jerk buying is done, it is time for the sellers to emerge!
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