Dear readers, the Shanghai Stock Exchange (SSE) Composite index closed at 2,983.06 last Friday (20 Oct 23). On the same day, the Singapore Straits Times Index (STI) closed at 3,076.69.
The aforementioned closing for SSE was a key development as SSE is now at the level last seen in Oct 2022. But notably, the SSE Composite index is now Oversold. Similarly, STI is also currently just Oversold (RSI is at 30) and is at a level, also last seen in Oct 2022.
The SSE Composite Index closed at 3,089.26 on the last trading day of 2022 (30 Dec 22), this means that year-to-date, the SSE Composite Index is down by 3.43% year-to-date from year 2022.
On the last trading day of 2022 (30 Dec 22), the STI was at 3,251.32 and hence the STI is currently down by 5.37% year-to-date from year 2022.
We can say that the STI is a worse performer year-to-date than SSE Composite Index and that Singapore stocks markets are performing worse than its Shanghai stock markets counterpart now.
I hope you find the above insights interesting.
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