Dear readers, at this time of writing, the US stocks markets have charged again overnight. Dow Jones was up 1,54%, S&P 500 headed up by 1.62% and the NASDAQ Composite went higher at 1.31%. Singapore stocks markets being a typical price taker will likely go higher in today’s trading session.
The Straits Times Index (STI) was at 2,891.63 yesterday. Yesterday, I shared a post on whether the STI would eventually reach 3,000 mark, a level which the index reached in March 2020 (you could read the post again here )
If the STI does reach 3,000 mark, investors must know that this 3,000 level came again the backdrop of a global worsening financial situation and where the Covid-19 cases have not in general shown any signs of easing.
I am cautious with the rallying up of the Straits Times Index especially so in today’s economical climate. I don’t know whether retail investors are driving up the Straits Times Index currently despite the uncertain job and economical outlook. I don’t know whether retail investors with incomes reduced or who could even have lost their jobs are still buying Singapore stocks to gain some profits.
Now is not the time to go investing into Singapore stocks as now Singapore stocks are expensive from my point of view, don’t care some so-called financial gurus say Singapore stocks are still trading at attractive valuations.
To me, now is the time to continue building your investment war chest and deploy it when stocks markets really correct and when investors flee. Let us turn the financial correction into one of our best investing opportunities!
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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