Dear readers, welcome to the first trading day for a brand new Year 2020! For Year 2019, the Singapore stocks as measured by the benchmark Straits Times Index recorded a gain of 5.02%. This gain was based on the Straits Times Index reaching 3,222.83 on 31 Dec 20 as compared to the 3,068.76 on 31 Dec 2019. The gain for the Straits Times was a modest one as compared to some other international indices. For example, the S&P grew 28.88% in Year 2019.
The Straits Times Index Exchange-traded fund which tracks the Straits Times Index is now overbought. As a result, I think Singapore stocks will correct next especially when there are some geo-political factors now coming to the fore: US-Iran tensions and a closely-watched next move from North Korea.
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