Dear readers, today is the start of yet another new trading week into the last month of Year 2020. What is the possible direction of Singapore stocks markets next? Well, let’s find out in this article.
First, the Straits Times Index (STI) despite coming down in several sessions is still overbought. I believe the STI is likely to find more downside this week as it corrects from its current overbought levels. This is especially so when there are no catalysts to drive the stocks markets further.
Second, the killing of a top Iranian nuclear scientist is likely to send some volatilities into the stock markets. It has been reported that Iran may retaliate against the assassination of the scientist. Hence even before the retaliation does not materialise, investors are likely to factor in a possible retaliation by Iran into their investments. This will only be bearish for the stocks markets.
Last but not least, the still increasing Covid-19 cases around the world will continue to be bearish for the stocks markets. On the other hand, investors are still looking at the development of the Covid-19 vaccine as a booster for global stocks markets. But just when the vaccine will come and how effective it is to combat the scourge of Covid-19 remains to be seen.
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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