Dear readers, welcome to December 2020! We are into the last month of Year 2020 and to me, Year 2020 seems to fly by in a flash. This year will always be remembered as the year where lives have been disrupted due to Covid-19. I believe all are looking forward to a better year ahead!
As Year 2020 is coming to a close in a month’s time, let us just take a look at how Singapore stocks markets has performed year to date this year.
The Singapore Stocks Markets benchmark indicator Straits Times Index (STI) closed at 3,222.83 on 31 Dec 2019. As of yesterday (30 Nov 2020), the STI closed at 2,805.95; hence the Singapore stocks markets were down by about 13% as compared to 2019.
However, we must remember Year 2020 as really a volatile year and the intra-year low of the Singapore Stocks markets here was on 23 Mar 2020 at 2,233.48. Against the aforementioned intra-low point of year 2020, Singapore stocks markets has actually retreated as far as 33% compared to last year for this year.
Against the current market backdrop, I would think the Straits Times Index settle for 2,500 to 2,600 level for this year. The 2,500 support is a psychological level for many investors. When there are neither positive nor negative developments, this support is likely to be reached once again by investors here.
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!
BINGE READ ALL POSTS!
Visit Home Page for more reads or Connect here!