Dear readers, we are one trading week away to year 2024!
The Singapore stocks markets closed yesterday at 3,140.32 for the Straits Times Index (STI), the benchmark indicator for Singapore stocks markets. With this closing, the STI is still 111 points (or -3.41%) below the 3,251.32 that the STI achieved on 30 Dec 2022.
A recent development for the Singapore stocks markets were the rally of the five Reits and business trusts under the STI last week. The five Reits and business trusts, are as below, and they have rallied as investors bought into the optimism for these stocks going forward on the back of US Federal Reserves likely cutting down interest rates next year.
Capitaland Ascendas Reit
Capitaland Integrated Commercial Trust
Mapletree Industrial Trust
Mapletree Logistics Trust
Mapletree Pan Asia Commercial Trust
One of the above five stocks continued to be of interest to investors for the week ended yesterday. This stock is Mapletree Industrial Trust as it continues to be trading in the Overbought RSI region.
The other STI stocks are trading in a neutral RSI region.
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