Dear readers, today is the first trading day of Year 2024.
Before we analyse or comment any further the Singapore stocks markets for this brand new year, I believe it is important to review the current state of Singapore stocks markets.
The Singapore stocks markets closed Year 2023 at 3,240.27 and this is about 0.34% lower than Year 2022, as such, the Singapore stocks markets was flat for last year.
Despite a lacklustre performance for last year, the Singapore stocks markets, as measured by the Straits Times Index closed Year 2023 Overbought.
The following are the STI constituent stocks that are overbought.
Capitaland Ascendas Reit
Capitaland Integrated Commercial Trust
Keppel Corporation stock
Mapletree Industrial Trust
Mapletree Logistics Trust
Mapletree Pan Asia Commercial Trust
UOB stock
No surprise to the list above since the STI family of Reits and Trusts have gained significantly, following expectations that the US Federal Reserves will cut interest rates this year. We will find out whether these Reits and Trusts will continue to rally in the year ahead.
Wishing you and dear ones a Happy New Year 2024, filled with joy, healthy, peace and prosperity!
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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