Dear readers, as many of you would have known by now, the Singapore stocks markets is currently at the highest level since 2007. The benchmark indicator for Singapore stocks markets, the Straits Times Index (STI) has powered past the 3,700 level.
With the STI heavily weighed on the stocks of the largest three banks, DBS, OCBC and UOB, it is not surprising that the rally of the STI is in part driven by the equally stellar performance of the three banking stocks. Aside from the three banking stocks, the performance of the other STI constituent stocks are mixed with some of these stocks continuing to be still laggards.
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Among them are STI stocks which are currently trading below their 200-Days-Moving-Averages as follows:
Capitaland Ascendas Reit
Capitaland International Commercial Trust
City Development stock
Frasers Centrepoint Trust
Frasers Logistics and Commercial Trust
Genting Singapore stock
Keppel Corporation stock
Mapletree Industrial Trust
Mapletree Logistics Trust
Mapletree PanAsia Commercial Trust
Sembcorp Industries stock
SIA stock
UOL stock
Venture stock
Wilmar stock
The laggard stocks amount to 15 and this means that even though the STI is at its 17-years highest, half of its constituent stocks are trading below their 200-Days-Moving Averages currently.
Investors have to note that the above finding is not a recommendation to buy into these stocks. The above information is for sharing only. Always do your own due diligence when it comes to investing.