Dear readers, tomorrow is the start of a new trading year for the Singapore stocks. Singapore’s stock benchmark, the Straits Times Index (STI) closed at 2,843.81 on 31 Dec 20 the last day and also last trading day of Year 2020. Are Singapore stocks cheap now?
Well, the Price-to-Book ratio of the Straits Times Index ETF (ES3.SI) is now 1.01 which means that the STI and Singapore stocks is almost fully-valued now. The Price-to-Earnings ratio of the STI is at 13.28, this to me is not longer cheap since this was lower at about 11 in Sep 20 before. Singapore stocks in line with global stocks went to an all-time low in March 2020. So if history is to repeat itself, we should be able to see the first low, the first correction of Singapore and global stocks in two months’ time from now. That will present some buying opportunities
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