Dear readers, how time flies, we are going to celebrate Singapore’s National Day once again!
There have been some ups and downs for the Singapore stocks markets, but overall, year-to-date, the Singapore stocks markets have still performed well.
In fact, the Singapore stocks markets have performed much better than many other stock markets. As of 5 Aug 2022, the Straits Times Index, the benchmark indicator of Singapore stocks markets delivered a 5.1% year-to-date gain and this is a great performance considering how some regional and international stock markets have not performed well.
For example, the Malaysia KLCI is down 4.2% year-to-date. The two US stock market indices, US S&P and US Dow Jones went south respectively by 12.9% and 9.9% year-to-date.
One of the few stock markets to outperform Singapore’s Straits Times Index is Indonesia’s JCI. The JCI gained 7.6% year-to-date.
In terms of Relative Strength Index (RSI), the Straits Times Index is currently Overbought with a RSI of above 70. Not sure, whether we will see some correction in the near-term?
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