Dear readers, it is not surprising that the Singapore’s benchmark stock markets indicators, the Straits Times Index (STI) is now currently overbought, having reached the highest level since 2007.
Not surprising, the 3 STI banking counters are Overbought:
DBS
OCBC
UOB
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And on the other side of the spectrum, there are three STI trusts that are Oversold. The STI Reits and Trusts have been sold down following US Federal Reserves’ cutting of interest rates (though some hold the view that with Donald Trump having even elected as US President, there will be less cuts going forward and there could even been rate increases if inflation is to come into the picture again.
The oversold STI stocks are as follows:
Frasers L&C Trust
Mapletree Logistics Trust
Mapletree PanAsia Commercial Trust