Dear readers, as expected and no surprises, China stocks markets went south the moment it re-opened yesterday after the Chinese New Year break. The China stocks markets benchmark closed the trading day south by almost 8%. Regional stocks markets including Singapore’s were not spared. China stocks markets are now oversold and so is Singapore’s and I believe several other stocks markets are also now oversold.
Even at this juncture and in view of what is happening on the stocks markets right now, I believe Singapore Straits Times Index should be heading towards the 2,900 level or below. 3,100 or so is still pretty high right now. One four-letter word all investors should say right now is none other than “WAIT”. Wait for the Singapore stocks markets and other stocks markets to head south even more as it will be an attractive point to buy some good stocks at good discounts!
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