Dear readers, after looking at the details of the Singapore Straits Times Index (STI) constituent stocks, it is time to look at the general picture of the Straits Times Index (STI) as a whole.
The Straits Times Index closed at 2,496.11 on 2 Oct 2020, below the 2,500 support level which I have been sharing has been a strong support level for the Straits Times Index for a long time. At the current level, the Straits Times Index has been consolidating around the 2,400 to 2,500 level for about half a year from April 2020. With the volatilities of the stocks markets worldwide, now marked by the focus on the health of the US President due to Covid-19 and the upcoming US general election, I expect even more volatilities to surface in the coming weeks.
Investors should not rush into picking up new stocks. To do so would be to pick up stocks without a compelling macro proposition. Fundamentals-wise, I believe the full impacts of the Covid-19 has yet to be fully felt on the stocks markets.
It is good that the world is racing against time to come up with a vaccine for Covid-19. Amidst the lack of positive catalysts for the stocks markets, I believe many investors are banking on the Covid-19 vaccine to be the boost for the lacklustre stocks markets. But I am always of the view that the macro stocks markets have already not been doing well before Covid-19. Hence even if Covid-19 is to go away soon, investors have to still be discerning on the outlook of the macro stocks markets going forward.
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