Dear readers, the Singapore stocks markets are feeling very bullish right away. Just look at the Straits Times Index (STI), previously we were at the support level of 2,500 but right now, we are approaching the 2,900 mark.
MTI announced yesterday that the economy is expected to grow between 4% to 6% in 2021. I believe this announcement further energises Singapore investors so that they invest even more into the Singapore stocks markets, driving the local stocks markets higher.
Will the Straits Times Index (STI) reach 3,000 given the state of euphoria surrounding investors? I am not surprised if the STI does reach the 3,000 level but I still hold my view that the Singapore Stocks Markets are very overvalued right now.
A 3,000 level for the Singapore stocks markets at this current stage is different as compared to similar level for the Singapore stocks markets many years back. A 3,000 level right now for the Singapore stocks came on the backdrop of a worsening global economy (never mind the prospects of an improving Singapore stocks markets) and the Covid-19 pandemic.
For investors who want to join in the party to speculate and make some quick bucks, I believe the party is over.
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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