Dear readers, the Singapore stocks markets benchmark indicator, Straits Times Index (STI) closed at 3,191.16 as at 13 May 2022.
Clearly, as compared with the start of Year 2022, the STI has declined by a fair bit. The STI as at 13 May 2022 was technically Oversold with 14-days RSI below 30 but other than the aforementioned, investors in Singapore stocks still have something to cheer about.
Why is that so?
Well, the STI has emerged as one of the best stocks markets currently, beating the other stock markets which in the earlier part of the year have performed better than it (the STI).
In fact, the STI is one of the few stock markets in the world that still returned positive gains year-to-date. Indonesia’s JCI and Brazil IBOVESPA returned 0.3% and 0.8% year-to-date.
For the US stocks markets, US S&P 500 and US Dow Jones returned -17.5% and -12.7% year-to-date.
Apart from Russia MICEX which was one of the worst stock markets year-to-date with a -38.9% year-to-date performance, China SZComposite also has not done well year-to-date, with a -23.7% year-to-date showing.
Nearer to Singapore, Malaysia KLCI performed -1.5% year-to-date, Japan Nikkei at -8.2%, Australia S&P/ASX200 at -5% and Hong Kong HSI at -15%.
I would believe the STI may still end Year 2022 in negative territory if global stock markets are to continue to underperform. STI is after all a price taker.