Dear readers, there is one noteworthy stock market which I would like to share with all of you.
This stock market is none other than the Russia MICEX.
Year-to-date, Russia MICEX is one of the best performers in the world with a 28.7% year-to-date gain.
However, even as the index outperforms its peer, the valuation of Russia MICEX is still undemanding: at just 7.2 Price-to-Earnings (PE) ratio.
Compared Russia MICEX to the Singapore Straits Times Index (STI).
The STI has returned a year-to-date gain of 12.7% and it has a PE ratio of 14.8.
Or we can say that the Singapore stocks markets are twice as expensive as the Russia MICEX and yet return less than half of the year-to-date gain of the MICEX.
The STI is currently Overbought and there should be some correction to STI soon.
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