Dear readers, the Singapore Straits Times Index (STI) closed 3,222.83 on the last trading day of Year 2019. The STI closed 3,011.08 on 28 Feb 2020 which means for the year-to-date, the Straits Times Index, which is the benchmark of Singapore stocks has plunged 6.57%.
If we assume the current stocks markets to head further south such that the Singapore stocks markets will correct 20% year-to-date, the STI will have to reach 2,578. This is a level which is lower than my first immediate support for the STI at 2,800 to 2,900.
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