Dear readers, Singapore Straits Times Index (STI) is currently trending higher and is feeling bullish from the US Presidential Election result. The result is not conclusive yet but what we have right now is 264 votes for Joe Biden and 214 votes for Donald Trump. At this time in writing, the Singapore Straits Times Index (STI) has headed north by 2.22% to 2,571.77.
So Singapore stocks markets seem to be bullish following the current set of results from the US Presidential Election. Singapore stocks markets are not the only ones to feel bullish. Just look at the regional stocks markets. Malaysia’s KLCI is up 1.498%, Hong Kong’s HSI is up 2.769%, China’s SSE is up 1.303% amidst others. And just take a look at US stocks markets performance yesterday when it was reported that Biden has had a narrow lead over Donald Trump: Dow Jones, S&P 500 and NASDAQ Composite rallied 1.34%, 2.20% and 3.85%!
It goes to show that investors are liking what results is coming out from the US Presidential Eleection right now. But this is where I would like to caution investors on. Sometime hype and bullish can be too overwhelming for investors that they ignore what the current state of the global stocks markets are like right now and feel a little bit greedy.
Covid-19 pandemic, bearish global economy outlook. All these are not going to change that fast with a new US President. But given what Biden has said in combating Covid-19, it is inevitable that investors are encouraged by a possible and increasingly likely Biden’s win.
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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