Dear readers, as have previously shared, the Straits Times Index, Singapore benchmark for stocks is currently consolidating. There are no meaningful gains to speak of, with any gains less than 1% based on recent trading sessions.
The active stocks on the current stocks markets are driven by company-specific announcements instead. But even for that, there are few macro catalysts to sustain these handful of specific stocks which are doing well going forward.
We are now in the times of Covid-19. Even before Covid-19, there are already very few positive economic catalysts to drive equities markets, what’s more for now. Given the aforementioned, the best thing for the stocks markets is actually no negative developments where in parallel the stocks markets are consolidating as in the Singapore stocks markets which we are seeing now.
Any hint of negative macro development will likely be met with a sell down. While positive developments for the macro stocks markets are unlikely to be sustained.
It is unusually quiet for the Singapore stocks markets now. I believe my prediction of 2,500 level for the Straits Times Index will be tested soon.
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